evolution of taxation
DESCRIPTION
Are you a taxpayer? Do you know why you are paying tax? Read on. Visit us at https://www.facebook.com/malaysiantaxationcommunityTRANSCRIPT
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EVOLUTION OF TAXATION Malaysian Taxation Community
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Fees paid by the rich to
get protection from the
government. MEANS
THERE WAS
A TIME WHEN TAX
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AS TIME PROGRESS FORWARD TO POST
WORLD WAR II
• Homes are destroyed.
• Man are injured.
• Children are orphaned.
• Government are broke.
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GOVERNMENT IS IN NEED OF
TO RECONSTRUCT THE COUNTRY
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no longer just on the rich and wealthy
TAX WAS IMPOSED ON THE MIDDLE CLASS
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AT FIRST IT WAS ONLY ON … Excess earned by employee
over the average cost of living
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AT FIRST IT WAS ONLY ON … Excess earned by employee
over the average cost of living
Exemption was provided on the first
income earned, so that average
person could live on their regular
earnings and only tax on excess
which would otherwise goes into
investment.
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THE GREAT DISCOVERY # Change in tax law affects behavior of the people.
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THE GREAT DISCOVERY # Change in tax law affects behavior of the people.
If government give incentives to invest in business, many people would invest in business.
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THE GREAT DISCOVERY # Change in tax law affects behavior of the people.
If deduction given to buy books, more people would buy books.
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From simple revenue raising vehicle
EVOLUTION OF TAXATION
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From simple revenue raising vehicle tax law evolves
into the vast array of laws that governed
economic activities of the land.
EVOLUTION OF TAXATION
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AS ECONOMY AND SOCIAL POLICIES CHANGES,
TAX LAW ARE ALTERED SIMULTANEOUSLY.
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NOW IT IS THE KEY COMPONENT IN ANNUAL NATIONAL FISCAL POLICY.
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IN MALAYSIA MINISTRY OF FINANCE WILL ANNOUNCE THE KEY CHANGES IN TAX LAW TOGETHER WITH
THE NATIONAL BUDGET.
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Will be held on 25th Oct 2013.
BUDGET
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NOW THAT YOU KNOW THE DRIVING FACTOR OF TAXATION. ITS TIME TO GET TO KNOW MORE
ABOUT HOW IT WORKS.
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LIKE US ON FACEBOOK TO GET UPDATES ON HOW IT WORKS.
www.facebook.com/malaysiantaxationcommunity
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The key to slash down on tax !
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