Monday, January 10, 2011

Tax return due 30 April (or 30 June for those having "Business" income)

Does it matter to you that Malaysia has only 1.0 million (source 1) to 2.4 million (source 2) (individual) taxpayers (who has a "Cukai Kena Dibayar") Those just do filing without paying "Cukai Kena Dibayar" not counted)? And most, I mean above 80% are Chinese (source 1).

Are these statistics shocking? The more shocking fact is.... when comparing these numbers (1.0 million to 2.4 million) to almost 1.3 million civil servants in Malaysia....... another Malaysia Boleh!

Conclusion: Most Malaysia (and Most of them are non-Chinese) are so poor that they do not need to pay income tax. How to become "high-income" nation in 15~20 years??

By the way, just a note:


Failure to submit tax returns is an offence under the Income Tax Act 1967. Individuals could be fined between RM200 and RM2,000 or jailed up to six months or both

Source:
1. www.AsiaOne.com
2. MalaysiaMirror.com
3. The Malaysian Insider.com
4. The Malaysian Insder.com - An underemployed economy