International Business Law - Tax (Direct Tax)

TAX, TAX TREATY, DIRECT AND INDIRECT

TAX

Prepared by :)SITI KHALIJAH

SITI NUR HALIZADINESWARY

WHAT IS TAXATION?WHAT IS TAXATION?

A tax is a financial charge or other levy imposed upon taxpayer by state

or the functional equivalent of a state.

TAX SYSTEM IN MALAYSIATAX SYSTEM IN MALAYSIApersonal income taxCorporate taxvalue added taxcustom dutylocal tax

REASON IMPOSE TAX?

Expenditure of warEconomy infrastructurepublic worksto fund walfare and public service

WHAT IS DIRECT TAX ?WHAT IS DIRECT TAX ?

Direct tax is paid directly by an

individual or organization to the

imposing entity

TYPES OF DIRECT TAX :) TYPES OF DIRECT TAX :)

property tax

personal property tax

Income tax

ADVANTAGES OF DIRECT TAX:)ADVANTAGES OF DIRECT TAX:)Direct tax is equitable as it is

imposed on person as per the property or income.

Time, procedure and amount of tax paid is known with certainty

direct tax is elastic. The governmnet can change in the level of property or income.

Direct tax enchanes the consciousness of the citizen.

INDIRECT TAXINDIRECT TAX An indirect tax ( such as sales tax, a

specific tax, value added tax, or goods and service tax ) is a tax

collected by an intermediary such as a retail store from the person who

bears the ultimate economic burden of the taxsuch as consumer.