No law says foreign donations tax-exempt, says expert
Former prime minister Najib Razak was presented with a RM1.5 billion tax bill, which includes an alleged RM2.6 billion donation from Saudi Arabia. – The Malaysian Insight file pic, April 3, 2019.
THERE is no law that says that foreign donations to individuals are exempted from tax, says tax expert Dr Veerinderjeet Singh. He said the only donation that is exempted from tax is from parents and loved ones, as those are considered gifts and have nothing to do with services rendered. Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
No law that says foreign donations not taxable: Tax expertKUALA LUMPUR: There is no law that says that foreign donations are exempted from taxes, says tax expert Dr Veerinderjeet Singh (pix). He said that the...
Read more »
No law says foreign donations not taxable, says expertOnly donations from parents and loved ones exempted, he adds.
Read more »
Foreign political donations not bound by local tax laws, insists NajibThe ex-premier replies to claims that IRB has slapped him with an RM1.5 billion tax bill.
Read more »
Afghan military could threaten peace if donations end, says US report | The Malaysian Insight300,000 soldiers could get pose threat if their salaries suddenly stop due to halt in donor support.
Read more »
Pattern of Adib’s injuries does not match assault, says expert | The Malaysian InsightVictims who were beaten would suffer 70% wounds to head, chest and abdomen, says doctor.
Read more »
Malaysia-Singapore spats not affecting Asean integration, says expert | The Malaysian InsightIssues need to be resolved but it does not mean entire relationship at risk, says research institute chief.
Read more »
Putrajaya no intention to retain fake news law, says Hanipa | The Malaysian InsightDeputy minister told Dewan Rakyat the government will continue to push for a repeal.
Read more »
Sarawak may raise petroleum tax for more income, says CM | The Malaysian InsightMoney can be used to fund building of roads, airports, bridges and rural development projects, says chief minister.
Read more »
IRB sends Najib RM1.5 billion tax bill, says report | The Malaysian InsightRM2.6 billion found stashed in his bank account count as undeclared income, say tax experts.
Read more »
Foreign donations taxable on case-by-case basis, says LHDNThis comes after Najib Razak says the RM2.6 billion which he says is a donation from Saudi Arabia is not taxable.
Read more »