Can any1 verify if his points r valid fr Income Tax pov?

Ive heard of donation x taxable, political donation oso... as well as if fund thats fr overseas ( x earned in Msia).... Does ahJib hv a point? Any tax agent, IRB staff here who can expand on these to improve our common general knowledge?

If its proven illegal money, then $$$ should be fully confiscated, no? Why just slap him with tax? I DUN quite follow this case. Minta pencerahan.

Ok, lets go thru... Via 1mdb jib songlap rakyat. 1mdb rugi so x tax. But $$$ like Magik appear in ahjib pocket dunno apahal... unless can tie back to 1mdb then got case, if fr other source outside country but cannot explain why ppl so charitable, is it deemed illegal $? If illegal cos x bole explain, then should just confisticate whatever amt, why tax pulak? tax is for legal income earned, n tax is too small % vs amt in bank! U get my point or x? I DUN understand this case. Some1 pls explain.

Any tax & money laundering law experts here?

Meaning, irb will track ori source of donation all d way to foreign soil? Check if they hv paid up their taxes and all?

Hmmm, if u scrutinise the fluctuations in taxable amount, seems like they r in sync w the donations? Could it be irb treats his donations as income ? As head of state, he can’t be earning estimable salaries from elsewhere...

Quote:
According to the notice, Najib must pay
RM116,173,374.12 (for the year 2011);
RM320,929,932.31 (2012);
RM891,573,465.46 (2013);
RM119,144,655.51 (2014); RM16,879,500.03 (2015);
RM643,445.21 (2016) and
RM346,471.41 (2017).

How to prove money is donation? And it’s up to IRB to decide what’s acceptable, what’s not? What if out of the blue Bill Gates decide to pump $$$ into your personal account, simply becos he takes a liking to you. What criteria IRB will use to determine if you can/ x accept the money fr such wealthy strangeR?

Wonder if an ultra wealthy man b allowed to pay off the hefty taxes for him? I dun c how Jib will b able to pay off any amt when his ac is frozen n all...

For our general knowledge ya....

What Happens When A Person Is Declared Bankrupt?
https://www.comparehero.my/debt-management/...ruptcy-malaysia
Being declared a bankrupt means an individual will have plenty of restrictions imposed upon them. Below are what will happen once a person is declared bankrupt:

Appointed A DGI
Once declared a bankrupt, a person will be assigned to the Director General of Insolvency (DGI). The DGI will administer all of the individual’s assets and manage it to repay the outstanding debts. So once declared bankrupt, a person’s assets will all be put under the administration of the DGI.

Travel Ban
An individual who has been declared bankrupt will be unable to travel out of the country without written permission from the DGI or before obtaining a court order which allows the individual to travel overseas.

Limited Credit Line
Existing bank accounts will be deactivated and a bankrupt will be barred from withdrawing any money from their existing account. Aside from that, a bankrupt is not allowed to spend more than RM1,000 on their credit card or obtain credit more than RM1,000 from any creditor.

Assets Taken Away
Once declared a bankrupt, all of the assets of the individual will be managed by the DGI. So for example an individual’s house and cars will be taken over by the DGI who will then manage it by reselling it to repay outstanding debts.

Employment Restricted
A bankrupt will not be able to work in certain professions which have restrictions imposed by their professional associations or licensing authorities. Examples of the profession a bankrupt cannot be employed as are:

Lawyer
Quantity Surveyor
Accountant
Doctor

Aside from that, once declared bankrupt an individual may not act as a director of a company. A bankrupt is also not allowed to own a business or be part of a business ownership, so no entrepreneurship is allowed once an individual has been declared a bankrupt.