Saturday, January 12, 2013

Taxation in Malaysia



  ISLAMISATION OF TAX REVENUE


Subject: Please Continue To Circulate This Until We Have A FAIR Tax Deduction Policy

 SIMPLE MATHS FOR NERDS

"Our lives begin to end, the day we become silent about things that matter" (Dr. Martin Luther King Jr.)

MALAYSIAN CHINESE & INDIANS, WHAT HAS BECOME OF YOU ??

BEING TAKEN FOR A RIDE UNASHAMEDLY BY YOUR GOVERNMENT WHO DO NOT SEEM TO HAVE AN OUNCE OF INTEGRITY !! WHAT A SORRY STATE OF AFFAIRS - WE MIGHT AS WELL BE RULED BY THE TYRANT MUGABE.

Malaysia tax deduction methods - Judge for yourselves, is it fair?

When non-Malays do their religious obligations, it is NOT tax deductable unless the Church or temple has applied and obtained the approval for tax exemption, which is normally very stringent and seldom approved..

Even if approved the donation is restriced to 7% of your aggregate income. (This has been revised to 10% from YA 2009 for company.)

Whereas zakat qualifies 100% and is tax deductible.

Example: Ah Peow donates to temple : RM10,000.
His Annual income : RM100,000.
Tax Relief : RM 23,000 (For Individual) + RM 7,000 (For Donation) Chargable income : RM70,000
Tax payable : RM7,125

Ahmad - with same income and relief. Chargeable income : (RM100,000 – RM23,000) = RM77,000
Tax payable : (Rm7125 + 1680) = RM8,805
Less zakat : RM 10,000.
Tax refundable : RM (1,195)

Ah Peow has the same annual income & donated the same amount, but he still needs to pay tax of RM7,125. Yet, Ahmad is entitled to a tax refund of RM1,195. He is also deemed a dutiful tax payer and honours his religious obligations. How do you like that?

THIS IS CRUDE BUT STRAIGHT TO THE POINT !

Do you know that 90% of the people paying income taxes in Malaysia are the non-Malays? Yes, you are one of them.

Malays who are taxable usually prefer to contribute to Zakat (tax deductible from NETT tax) and give to State Religious bodies (not Govt or Income Tax Dept)

PAY YOUR TAXES DUDE, SO THAT UMNO CAN ENJOY THEIR LIVES AND CALL YOU PENDATANGS !

GE13 is your last chance for CHANGE !

As Patrick Teoh exclaims, 'You don't have to take to the streets' so circulate this e-mail!

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