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BACHELOR OF ACCOUNTING (HONS)FACULTY OF BUSINESS AND LAW

MULTIMEDIA UNIVERSITY

2010

TAXATION I

SECTION:

BM221

LECTURER:

MS. YIP YEN YEN

BY:

NO. NAME STUDENT ID LIST NO. CONTACT NO.

1. IRENE AU KAR MUN 10110200! 1"# 01 $ !1%2%%&

2. YONG XING NING 10110!'!2 1%1 01" $ 12&2%

'. YEO HWEE CHING 10110!"#% 1%' 01! $ '1!#&

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*+,-/ 2

Nowadays, Malaysia has successfully changed from a primary-based economy

to an industrialized state in 1990s, and has the vision to become a fully-developed

country by 2020 !hy Malaysia can have such a huge improvement" #his is

definitely because of the ta$es% &irect ta$es, which are administered by the 'nland

(evenue )oard *'()+, are the maor source of funding which consistently contribute

around 0. to /0. of the overnments total revenue *asmah 3bdullah,2010 +

#a$es have become integral part of a person as well as the country since ta$es

are the bul4 of overnments total revenue !ithout #a$es, development in our

country will come to a standstill (evenues that are contributed by ta$ payers enable

the government to have the ability in investing substantial sum of money into

development 3ccording to the research done by 'nland (evenue )oard *'()+,

poverty in Malaysia was reduced from 95. in 1960 to /6., infant mortality rate

reduced from /9 per 1,000 in 197/ to 5/ per 1,000 in 2009, literacy rate raise from

66. in 197/ to 9/. in 200/ and a first-class infrastructure networ4 saw the

e$pansion of 9,200 4ilometers of road in 197/ to 12,212 4ilometers in 2009 #his

situation shows that Malaysian overnment has great plans to change our country

from middle-income to a high income nation *asmah 3bdullah,2010+

'n order to increase revenues of Malaysian overnment, it is obvious that

ta$es are the most significant way among other methods which contribute to the

increment of overnments income #here are various types of ta$es that are income

ta$es, property ta$es, sales ta$es and other relevant ta$es which play their roles in

raising overnments revenue 'n fact, ta$es are effective methods for capitalizing the

public goods costs 8ublic goods are usually difficult to reduce in terms of

consumption by public for instance street lightning and these costs are paid by

overnment

)ased on research, ta$ revenues have ta4en up to 1. of the overall :ederal

overnment revenue and due to this scenario, overnment has increasingly

depending on these revenues or ma4ing them as the primary source of revenue

*;unarto, 199+ 3ccording to the data from the research done, overnment has

estimated that there still will be ta$ revenue increment although the ta$ rates have

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dropped during the last few years

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R***/*+

1) N*3+454*

asmah 3bdullah *2010-7-20+ Why citizens should pay their taxes#he