Malaysian Taxation Principles and Practice (2025, 31st Edition)

“Malaysian Taxation – Principles and Practice (2025, 31st Ed.)” is the leading tax reference, covering a wide spectrum of revenue law, including income tax, e-Invoicing, real property gains tax, capital gains tax, sales tax and service tax. The conceptual framework and its working mechanisms are meticulously analysed and systematically explained across 40 chapters supplemented with 420 examples, 22 flowcharts and 32 tables. Contentious tax issues are highlighted, along with expert insights and suggested solutions.

This reference text is developed to meet both academic requirements and professional needs. It incorporates the Finance Act 2024 on the Budget 2025 Proposals, Measures for the Collection, Administration and Enforcement of Tax Act 2024, PU(A) Orders and Rules, IRB Technical and Operational Guidelines, Practice Notes, Public Rulings and case law decided in 2024 and 2025. Tax Audit Framework on Income Tax and Employer published on 15 March 2025 is also included.

The study of taxation courses in universities or colleges, as well as students preparing for professional exams, is made easier with this reference text. It simplifies complex tax concepts while maintaining depth and accuracy. The writing emphasizes on tax application and computation from a practical perspective. The content materials are drawn from 19 years of teaching taxation across various degree programs at the University of Malaya. It has proven to be the essential text for learning tax principles, applications, and computations.

This is a must have reference for every student embarking on the journey of learning taxation, as well as for practitioners and tax agents engaging in tax practice, advisory or legal work.

The topics covered include:

• Scope of charge
• Residence status
• Chargeable income
• Employment income
• Interest and dividend income
• Rental and royalty income
• Business income
• Business deductions
  
• Tax incentive on business deductions
  
• Capital allowance and charges
  
• Industrial building allowance
  
• Basis period and change in accounting dates
  
• Partnership
  
• Personal reliefs and rebates
  
• Personal taxation
  
• Company taxation
  
• Withholding tax
  
• Mining expenditure and prospecting expenditure
  
• Agriculture and forest allowance
  
• Returns and assessments
  
• Self-assessment for individuals, companies, LLP, trust bodies or co-operative societies
  
• Collection and recoveries
  
• Appeals
  
• Penalties and offences
  
• Real property gains tax
  
• Sales tax (Including low value goods)
  
• Service tax
  
• Capital gains tax  
  
• Electronic invoice (e-Invoice)