Tuesday, February 16, 2016

Political donations not subjected to tax, says revenue board

Political donations are not subjected to tax, said Inland Revenue Board (IRB) chief Mohd Shukor Mahfar as quoted by news portal Malaysiakini. "To me, if the income is subjected to tax, (then we can tax). If income not subjected to income tax, then we cannot tax," he was quoted as saying when asked by reporters on political donations. It was reported previously that central bank Bank Negara Malaysia (BNM) and the IRB knew about the deposit of RM2.6 billion into Prime Minister Datuk Seri Najib Razak's personal account. – February 16, 2016. MORE TO COME]]>

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