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FOUNDATIONS IN TAXATION (MYS) JULY 2012 INTRODUCTION TO THE MALAYSIAN TAX SYSTEM 1. Introduction The overall functions and purposes of taxation in Malaysia include: 1. Raising revenue to finance government expenditure. 2. Regulating the private sector of the economy to maintain the desired level of employment and increase economic development. 3. Ensuring that taxes are collected effectively and at minimum cost both to the government and taxpayers.
FOUNDATIONS IN TAXATION (MYS) JULY 2012 INTRODUCTION TO THE MALAYSIAN TAX SYSTEM 1. Introduction The overall functions and purposes of taxation in Malaysia include: 1. Raising revenue to fin…