Corporate Law of Malaysia : The Corporate Income Tax

This article articulates the corporate taxation law in Malaysia. Discussion begins by reinforcing the understanding of the development of Malaysia tax regime by drawing a brief comparison between the official assessment system and the self-assessment system. Discussions also encompass general issues pertaining to matters such as incomes that are subjected to taxation; tax resident status; the concept of year of assessment and basis period; responsibilities of corporate taxpayer and lifting the veil of incorporation to incriminate directors. Specific
discussion is drawn on corporate tax treatment on treasury shares and dividend distribution. The writing of this article employs the hermeneutics analysis of relevant legislations. It provides a quick and simplified reference for students and non-practitioners.