Thannees Tax Consulting Services Articles in the Press and Social Media
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Opportunity to come clean
THE government has come up with another special voluntary disclosure programme (SVDP) dealing specifically with indirect taxes to be administered by...
Take advantage of your year-end tax breaks
How is foreign sourced income taxed?
THIS is certainly a hot topic as many taxpayers were surprised by the Budget 2022 measure to tax foreign sourced income received by Malaysian...
Not the time to introduce new taxes
THERE has been much discussion on the introduction of new taxes or raising tax revenues by tightening the tax administration. The new taxes that...
Time for IRB to swtich emphasis from tax enforcement to improved tax compliance
IN recent years there has been a significant increase in the level of audit/investigation activities by the Inland Revenue Board (IRB). The...
Income from illegal activities – is it taxable?
ILLEGAL income arises from illegal activities. It is an act which the law disapproves of, or completely bans. There are two types of activities:...
Tax issues regarding bad debts – how to claim for deduction
THE possibility of bad debts is always present in business. It is natural to assume that such bad debts will be tax deductible. However, that is not...
Tax Matters – Time to consider wealth tax
IN 2021, Forbes Asia reported that the wealth of the 50 richest Malaysian individuals increased from US$70 billion to US$90 billion (RM292 billion...
Using tax havens to shelter profits is risky
TAX havens are offshore countries that offers individuals and businesses a tax regime that imposes no tax or minimal tax without the requirement for...
Why transfer pricing documentation is vital
TRANSFER pricing is triggered when there are transactions between associated persons or related parties, one of whom has control over the other or...
Tax Matters – Political parties are exempt from income tax
WITH the possibility of a general election being called anytime before mid-2023, political parties will need to fill their coffers to finance their...
Why the rich have a tough time with capital statements
IT is becoming common for the Inland Revenue Board (IRB) to ask high net worth individuals to account for the movement of their wealth on a...