Monthly Archives: April 2015

Public Not Aware Of Importance Of Records Management, Say Academics

By Mohd Hisham Abdul Rafar SHAH ALAM, (Bernama) — Many among the nation’s six million taxpayers are probably busy completing their income tax return forms and submitting them to the Inland Revenue Board (IRB) either manually or through e- filing before the respective April 30 or May 15 deadlines. According to the Income Tax Act 1967, taxpayers are required to retain all their tax records, documents and transaction receipts dating back to seven years to ascertain the authenticity of their claims for tax exemption and Read More +

Proper Management Of Transaction Records Vital For GST To Be Successful

By Mohd Hisham Abdul Rafar KUALA LUMPUR (Bernama) — The enforcement of the Goods and Services Tax (GST) on April 1 saw many Malaysians perusing receipts issued to them by the restaurants or shops they had patronised to either find out the exact quantum of the new consumption tax or if they had been taken for a ride. Social media users have been busy sharing their opinions, information and receipts, as well as voicing out their grievances through Facebook, Twitter and blogs. Among the topics Read More +