Taxation is a compulsory financial charge or some other type of levy imposed upon a taxpayer an individual or legal enti
Posted: Sun Jul 03, 2022 1:08 pm
Taxation is a compulsoryfinancial charge or some other type of levy imposed upon a taxpayeran individual or legal entity by a governmental organizationin order to fund various public expenditures. A failure to pay,along with evasion of or resistance to taxation, is punishable bylaw. Taxes consist of direct or indirecttaxes and may be paid in money or as its labourequivalent.
An income tax is a taximposed on individuals or entities as taxpayers that varies withrespective income or profits (taxable income). Income tax generallyis computed as the product of a tax rate times taxableincome. Taxation rates may vary by type or characteristics of thetaxpayer.
The tax rate may increase as taxableincome increases which is depends on progressive rates. The taximposed on companies is usually known as corporatetax and is levied at a flat rate. However, individuals aretaxed at various rates according to the band in which theyfall.
Question: Discuss with a proper explanation the reason ofMalaysia implements e-Filing for income tax submissions.
An income tax is a taximposed on individuals or entities as taxpayers that varies withrespective income or profits (taxable income). Income tax generallyis computed as the product of a tax rate times taxableincome. Taxation rates may vary by type or characteristics of thetaxpayer.
The tax rate may increase as taxableincome increases which is depends on progressive rates. The taximposed on companies is usually known as corporatetax and is levied at a flat rate. However, individuals aretaxed at various rates according to the band in which theyfall.
Question: Discuss with a proper explanation the reason ofMalaysia implements e-Filing for income tax submissions.