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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.