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Inland Revenue Board* (LHDN) Labuan Financial Services Authority* (Labuan FSA) Langkawi Development Authority* (LADA) Malaysian Deposit Insurance Corporation (PIDM) Malaysian Totalisator Board* Public Sector Housing Financing Authority* (LPPSA) Retirement Fund, Incorporated* (KWAP) Royal Malaysian Customs Department (JKDM)
The Inland Revenue Board of Malaysia, also known as Lembaga Hasil Dalam Negeri Malaysia (LHDN), is responsible for enforcing laws related to taxation in Malaysia. It is an agency under the Ministry of Finance and is responsible for collecting and administering various types of taxes, including income tax, goods and services tax (GST), and real ...
The Minister of Finance is the minister in charge of government revenue and expenditure. The Minister oversees economic policy: fiscal policy is within the Minister's direct responsibility, while monetary policy is implemented by the politically independent Central Bank of Malaysia, the head of which is appointed by the Yang di-Pertuan Agong.
In 2016, the Inland Revenue Board of Malaysia lowered the effective tax rate to 24% for businesses with capital exceeding RM2.5 million (approximately US$550,000). For smaller companies, the rate was 19%. [102] The Malaysian government also imposes government taxes such as the Sales and Services tax (SST) and real estate taxes.
Ahmad Badri bin Mohd Zahir is the former Secretary-General of the Treasury of Malaysia. [1] [2] As secretary-general, Ahmad Badri also serves as Chairman of the Inland Revenue Board of Malaysia (LHDN), Retirement Fund (Incorporated) (KWAP) and the Public Sector Home Financing Board (LPPSA).
Currently revenues are sold at the Inland Revenue department and from all post offices in Malaysia. In recent years the Inland Revenue Board of Malaysia has launched a new e-stamping service to speed up processes and eliminate forgeries, however adhesive revenue stamps continue to be used. [6]
Inland Revenue Board of Malaysia Act 1995 [Act 533] Malayan Railway Provident Fund (Dissolution) Act 1995 [Act 534] Tabung Haji Act 1995 [Act 535] 9th Parliament of Malaysia (Total: 64) Perbadanan Putrajaya Act 1995 [Act 536] Prison Act 1995 [Act 537] Town Planners Act 1995 [Act 538] Small and Medium Industries Development Corporation Act 1995 ...
The Ministry of Finance (MoF) comprises the Royal Customs and Excise Department, Department of Valuation and Property Services, Department of the National Accountant of Malaysia, Inland Revenue Board, Securities Commission, and National Bank of Malaysia.