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To foster economic growth and development governments need sustainable sources of funding for social programs and public investments. Taxes help raise the standard of living in a country. The higher the standard of living, the stronger and higher the level of consumption most likely is.
Like many other countries, Malaysia has its tax system and is a very tax welcoming country. Income tax in Malaysia is imposed on income accruing in or derived from Malaysia. Malaysia’s taxes are assessed on a current year basis and are under the self-assessment system for all taxpayers. A self-assessment system adopted which means that the responsibility to determine the correct tax liability lies with the taxpayer. As a businessman, you have made game plans for taxation, it is important to aware of the fact that how it will affect your company.
Like many other countries, Malaysia has its tax system and is a very tax welcoming country. Income tax in Malaysia is imposed on income accruing in or derived from Malaysia. Malaysia’s taxes are assessed on a current year basis and are under the self-assessment system for all taxpayers. A self-assessment system adopted which means that the responsibility to determine the correct tax liability lies with the taxpayer. As a businessman, you have made game plans for taxation, it is important to aware of the fact that how it will affect your company.
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