
Financial News
Financial news: Thou shall not run away from tax
Malaysia’s Income Tax Act says that the administrator or next-of-kin of the deceased persons have to settle their tax areears. What this tells us is that no one could escape tax, even if the person has left this world. This Act acts to ensure the person does not delay paying the tax and then when the person dies, the government of the day would ave to write this off. Just need to note that if the person has no financial ability to pay, the government would have no choice but to write it off. Think… who will have to pay for this if the government decides to write it off?