100 Ways to Save Tax for Malaysian Investors is written specifically to help Malaysians understand the way tax applies to different kinds of investment and how it can impact on the investor. It is designed to inform and educate not only the individual investor but also companies and other bodies in the private sector, including their directors, managers and owners as well as investment advisers and managers and other professional advisers, such as accountants and lawyers. The main focus is on investment in Malaysia by Malaysians but the book also covers the tax implications of investment overseas including investment in Labuan as well as investment by non-residents and by successful applicants under the Malaysia My Second Home programme

100 Ways to Save Tax in Malaysia for SMEs, 2nd Edition presents clear explanations on key aspects of taxation of small and medium companies in Malaysia with valuable tax-saving ideas to enable businesses to fully use available tax breaks and incentives. This edition provides basic tax information to help owners better understand their tax liabilities and mininise their tax exposure and also supplies practical guidance on how taxpayers can meet compliance requirements so as to stay clear of penalties and tax audits.

Key Features:

• Describes and illustrates the use of the reduced tax rate for SMEs
• Considers tax implications of major business initiatives from the point of view of promoters and investors
• Discusses sales tax and service tax as well as provides guidance on the upcoming goods and services tax
• Contains useful guidance for businesses to ensure compliance under self-assessment
• Fully up-to-date containing new changes brought in by the Finance Act 2014

Easy-to-Understand

• Principles of taxation of SMEs are clearly explained in simple language
• Instructive examples facilitate understanding and assist in tax planning
• Simple Tax Planning Tips summarised at the end of every chapter
• Detailed table of contents and useful cross-references facilitate easy navigation through the text
• Relevant Inland Revenue Public Rulings are reproduced as appendices for easy reference

100 Ways to Save Tax in Malaysia for Individuals has been crafted to help ordinary Malaysians who want to understand more about income tax and the tax-saving ideas that they can use to reduce their tax burden, whilst keeping within the law. The book will show you how to plan your tax affairs and to strategise to make the most of the deductions, reliefs, rebates and tax exemptions that are available to you as an individual. Husbands and wives will receive guidance on how to plan their financial affairs in tax-efficient ways so as to build adequate savings to provide for their children’s education and their own retirement. Learn also about the workings of the self-assessment system including monthly tax deductions and how the well-informed can use their knowledge to optimise their financial resources.

Individuals who want to stay in control of their tax affairs will appreciate the fact that tax planning is not just a once-a-year chore. This book should prove helpful not only for tax filing but for forward tax planning. Whether you are a Malaysian citizen or resident, a permanent resident, a returning expert or a person enjoying MM2H status, there is something of interest for you in this popular work. Employees, company directors, retirees and persons engaged in business or a profession, either individually or as a partner – in fact, any individual who is or is potentially a Malaysian taxpayer, can benefit from the wealth of ideas presented in this book with its easy to read yet informative style, clear examples and comprehensive index. Specially tailored for you – the individual taxpayer – this book builds on the pedigree of successful editions of the highly acclaimed 100 Ways to Save Tax in Malaysia series.

Highlights of new material covered in this edition:

• Reductions in tax rates ranging from 1% to 3% for all taxpayers from 2015 onwards.
• Operation of monthly tax deductions at source (MTD) as final tax.
• Increased reliefs for medical expenses for serious diseases and basic supporting equipment.
• Tax deducted at source from withdrawal of contributions to deferred annuity or private retirement schemes.
• New Inland Revenue Board Public Rulings.
• Revised and improved worked examples.

…this book will be a most welcome addition to our legal literature on an important aspect of tax law, especially to its practitioners and to the members of the general public … [It] shows great learning and scholarship…”

From the Foreword by
Dato’ Abang Iskandar bin Abang Hashim
Chief Judge of Sabah and Sarawak

Key Features:

Clear and comprehensive discussion of the law
Reference to extensive range of cases, statutes and other written sources to support and clarify discussion
Practical insights and pointers on actual issues encountered in tax appeals
Coverage of appeals to the Special Commissioners and the courts as well as judicial review applications
Carefully structured contents to aid easy use of the book
Instructive appeal checklists
Forms and precedents
Taxation affects everyone in one way or another. Since the advent of income tax, everyone has been aiming to pay as little tax as possible. All kinds of schemes are thought of. No commercial person in his right sense transacts except on the basis of paying the least amount of tax possible. It is undoubtedly legal for a company to organise its affairs in such a way as to minimise tax. Nevertheless, tax settlement is contentious and many have been brought to the courts by way of appeal for final determination.

This book covers topics relevant to any contemporary discussion on tax appeals. The law and practice on this subject have been expertly treated. The law has been considered and analysed in depth, while the treatment of the practical aspects has benefitted from the wide experience of the author in conducting tax appeals. Copious endnotes provide an invaluable source of references for detailed study and further research on the intricacies of handling appeals against tax assessments raised by the tax authorities.

Cases and other sources from Malaysia and other jurisdictions have been analysed and discussed to build an enviable resource from which tax practitioners can draw much valued knowledge to mount cogent arguments in conducting their appeals before the Special Commissioners of Income Tax as well as the courts.

Relevant forms and precedents and helpful checklists presented in the appendices complement the excellent text to provide a complete and comprehensive textbook on the current practice of tax appeals in Malaysia.

Tax Appeals in Malaysia: Law and Procedure is a book which should not be missed by lawyers, judicial officers, tax authorities, revenue counsel, tax advisers, accountants and business owners.
Table of Contents

*Tax Appeals
The Special Commissioners of Income Tax
Assessments
Appeals to the Special Commissioners of Income Tax
Appeals to the High Court
Judicial Review
Appeals to the Court of Appeal
Recovery or Collection Appendices