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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 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.
The Board of Inland Revenue was created under the Inland Revenue Board Act 1849, after the Board of Excise and the Board of Stamps and Taxes were amalgamated. Responsibility for excise duties was transferred to the Board of Customs and Excise in 1909.
In 1972, a revenue legislation called the Sales Tax Act 1972 was declared in the Government Gazette as Malaysia Law Act 64 and implemented on 29 February 1972. This tax, known as Sales Tax, was imposed on all imported and local products, except those exempted under Sales Tax (Exemption) Order 1972, or were produced by manufacturers exempted ...
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.
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 ...
A revenue service, revenue agency or taxation authority is a government agency responsible for the intake of government revenue, including taxes and sometimes non-tax revenue. [ 1 ] [ 2 ] Depending on the jurisdiction , revenue services may be charged with tax collection , investigation of tax evasion , or carrying out audits .
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]