Taxation is the mandatory payment of money to the government that is used to fund public services and infrastructure. The objectives of taxation include generating revenue for the government, redistributing wealth, and incentivizing certain economic behaviors. This document discusses types of taxes in Malaysia, sources of income taxable under Malaysian law, the difference between income and capital receipts, and the difference between tax evasion and avoidance. It also briefly covers three types of tax rate systems.
Taxation is the mandatory payment of money to the government that is used to fund public services and infrastructure. The objectives of taxation include generating revenue for the government, redistributing wealth, and incentivizing certain economic behaviors. This document discusses types of taxes in Malaysia, sources of income taxable under Malaysian law, the difference between income and capital receipts, and the difference between tax evasion and avoidance. It also briefly covers three types of tax rate systems.
Taxation is the mandatory payment of money to the government that is used to fund public services and infrastructure. The objectives of taxation include generating revenue for the government, redistributing wealth, and incentivizing certain economic behaviors. This document discusses types of taxes in Malaysia, sources of income taxable under Malaysian law, the difference between income and capital receipts, and the difference between tax evasion and avoidance. It also briefly covers three types of tax rate systems.