Taxation

Mathematics

Question

Taxation

Not quite remember

I easily remember

Taxation

Process of revenue (money) collection from individuals or companies, for use in the country’s development

Purposes of Taxation

Income Tax

The tax imposed on income earned by a salaried individual or a company operating in Malaysia

Road Tax

The tax levied on road user who owns vehicles including motorcycle and car

Property Assessment Tax

The tax levied on all holdings or properties (residential houses, industrials, commercial buildings and vacant lands)

Quit Rent

The tax levied on the owner of agricultural land, corporate land and land with building

Parcel tax

Tax levied on stratified properties (for example apartments and condominiums) to replace quit rent

Detention warrant

Power of attorney which enables local authorities to seize properties in a building through the Registrar of the High Court in accordance with Section 151

Sales tax

Tax levied only once on various taxable goods at the stage of manufacturing or during importation

Service tax

Tax levied on consumer who receives taxable services, such as hotel services, insurance, takaful and so on

Report this flashcard

Taxation

Practice Flashcard Now

Return to the Mathematics flashcard list