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This article examines the primary tax issues facing private clients in Malaysia, with particular regard to applicable regimes, exemptions and recent developments.
The Federal Board of Revenue (FBR) has cancelled the leave of its former chairman Ashfaq Ahmad
The exchange of bank data between Russia and Switzerland should be stopped, according to the recommendation of the relevant Swiss authority. The issue now rests with the Swiss Federal Council.
The Revenue Department plans to propose a draft law on the exchange of financial account information of non-residents to the cabinet, according to director-general Lavaron Sangsnit.
Privacy, both financial and personal, is a key component of life in a free society. Unlike in totalitarian or authoritarian regimes, individuals in free societies have a private sphere free of government involvement, surveillance, and control. The United States Constitution’s Bill of Rights, particularly the Fourth, Fifth, and Ninth Amendments, together with structural federalism and separation of powers protections, is designed to further that end by protecting individual rights. The current financial regulatory framework is inconsistent with these principles.