DOCSLIB.ORG

Sources of Malaysia's Income and Its Allocations in Context Islam's Public

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sources of Malaysia's Income and Its Allocations in Context Islam's Public Amimah Oktarina, Rina Desiana P-ISSN: 2527- 4163 Sources Of Malaysia’s Income .... E-ISSN: 2654-332X Vol. 4 No.1 April 2019 SOURCES OF MALAYSIA’S INCOME AND ITS ALLOCATIONS IN CONTEXT ISLAM'S PUBLIC FINANCIAL IN NEWEST ERA Amimah Oktarina, Rina Desiana Lecturer, IAIN Bengkulu Lecturer, STIT University of Kupang. ABSTRACT In order to build an Islamic economic system in Islamic state, a state should manage its finance based on the principles of Sharia, both in the terms of earning or incomes and their allocations on the earnings side, a state should manage their incomes according to Islamic way. Than the result of their incomes should be allocated in order to achieve their goals, which is the prosperity of society. Tax is a policy which is settled by a government and decided according to the needs or necessities of state its self. For example, Malaysia has decided and managed their incomes sources such as tax, zakat, and awqaf. And they were allocated according to the needs or necessities of a state such as infrastructure, salaries, subsidies, and also to eight parts of zakat receiver. Keywords: Malaysia, The Source of Income, The Allocation of Income, Finance The Public of Islam. Introduction the program of protection to the poor people Country is a place for some people to (pro-poor).1 In the classical discourse, the make their better life. One of the most Islamic government that once attended the urgent thing is the existence of a historical stage, has also exemplified the forms government whose duty and function is to of country's income and its allocations. manage the country. Through a country's In an Islamic economic system and an revenue budget (in Indonesia called Islamic country, the country have to manage APBN), income and expenditures will be their finances with sharia principles as well. managed in a planned way for the whole Even from its income or its allocation. For the people. For example increasing the rate of economic growth (pro-growth), expanding 1 Muh. Fadhail Rahman, “Sumber-Sumber Pendapatan dan Pengeluaran Negara Islam”, Al-Iqtishad, new employment (pro-job), and improving Vol. 5 No. 2, Juli 2013, p. 237. 19 Baabu Al-Ilmi Vol. 4 no. 1 April 2019 revenue side, the country should be able to So in this journal will discuss the source of collect their incomes from the Islamic Malaysia's income and its allocation in the Shari'a system. Things that accordance context of Islamic public finances of the with Islamic shari'ah are zakat, infaq, alms, newest era, in which the income can help waqf, rikazh, jizyah, khumus, fay, kharaj, Malaysia achieve their target which can be ushur, taxes and debt if other sources of used as a model for other Muslim majority income are not enough for the country's countries like Indonesia. This discussion still budget.2 And the results of the incomes refers to the context of the Islamic public collection should be allocated to achieve sphere in classical era. In other words, the the goals of a country, that is to achieve the focus or limitation of this discussion is Islamic welfare of its society. public finance which is a public property or Seeing the development of the times property owned by the Malaysian government and technological advances, it is stated that for the benefit and welfare of their society. the income of a country in the context of Discussion Islamic public finances is not entirely the A. Short Profile of Malaysia same in the classical era. But according to Malaysia is a constitutional monarchy Islamic public finances in classical times, with a parliamentary form of government. there are some country's incomes in Islamic The head of country is Yang di Pertuan public finance systems that still exist in Agung. He was elected by (and from Islamic countries, one of which is in among) the kings (rulers) of nine Malay Malaysia, which is one of the Islamic native states to hold position for 5 years. countries that shares the economic structure The executive power is held by the prime with Indonesia and is sustained much by minister, appointed by Yang di Pertuan manufacturing and agricultural sector in its Agung. Malaysia consists of 13 states and development.3 three parts of the federal territory. The nine original Malay states are Johor, Kedah, Kelantan, Negeri Sembilan, Pahang, Perak, 2 Nurul Huda, dkk., Keuangan Publik Perlis, Selangor, and Terengganu. Islami: Pendekatan Teoritis dan Sejarah, (Jakarta: Kencana, 2012), p. 74. Together with Melaka (formerly Malacca) 3 Timbul Hamonangan Simanjuntak, “Penerimaan Perpajakan di Negara Asean”, Jurnal and Pinang (formerly Penang), they Ekonomi dan Studi Pembangunan, Vol. 4, No. 2, November 2012, p. 185. created the former Federation of Malaya. 20 Baabu Al-Ilmi Vol. 4 no. 1 April 2019 The other two states are Sabah and people use Malay language. Malay is the Sarawak. The three-part Federal national language (formally called Malay). Territory, called Wilayah Persekutuan, English is used in business and consists of the island of Labuan, the government. The Chinese language is also capital of Kuala Lumpur, and the new mostly used. And Malaysia's official city of Putrajaya (designated in 2001). religion is Islam, but the constitution Malaysia is divided into two guarantees religious freedom to all society. distinct areas, namely West Malaysia Many ethnic Chinese are Buddhist or (or Semenanjung) and East Malaysia Taoist. Most Indians are Hindus. Some of (Sabah and Sarawak on the island of the tribes of Sabah and Sarawak are Borneo). The independent Malaysian Christians; the rest follow the traditional nation was created in two stages. In native religion of their ancestors. 1957, a part of the land (later called The wealth of natural resources and Malaya) gained independence from high technology industries has spurred Britain. In 1963, Sabah, Sarawak, and Malaysia's economic development in Singapore were added to Malaya, thus general. Even its human resources creating the Malaysian nation contribute to the Malaysian economy, from (Singapore became an independent banking and real estate to local country). government and commerce, the service Most of Malaysia's 30 million sector accounts for almost 47% of residents live on the Melaya Peninsula Malaysia's economy. The service industry or Semenanjung Malaya, especially in also employs about half of all the national cities or near the west coast. The workforce. Industry-related tourism also indigenous Malays constituted the contributes greatly.4 largest single ethnic group (50%), followed by ethnic Chinese (24%) and B. Malaysia’s Income Sources and Its India (7%). There is also a small Allocation number of indigenous peoples, they 1. Taxes as Malaysia’s Income are Orang Asli. Sabah and Sarawak in Kalimantan are inhabited mainly by 4Pete, Profil Lengkap Negara Malaysia, http://www.kembangpete.com/2014/08/13/profil- Dayaks and non-Malays. Most of the lengkap-negara-malaysia/, the date: 10 Oktober 2016. 21 Baabu Al-Ilmi Vol. 4 no. 1 April 2019 Malaysia is one of the Islamic of tax that contributes the most to countries, although this country Malaysia's incomes. Indirect taxes and the Islamic country of the revenue consists of import duties, time of the Prophet and the period export duties, excise duties, sales tax, of Khulafa al-Rashidin are and service tax.6 separated by long periods of time So as in general, Malaysian and cultural differences, but the income can be obtained from the Islamic Shari'a remains the true collection of taxes. Overall the tax character and remains flexible for laws in Malaysia are friendly, even for all times and regions. This local taxpayers or foreign investors assumption implies that the fiscal who invest there. In Malaysia policy of the early Islamic state individual taxes and corporate taxes can be reformulated in accordance are applied, but Malaysia does not with the legal and cultural order of recognize Taxes on Wealth, Taxes on Malaysian society.5 Land, Taxes on Rewards, and State Therefore, acceptance and Taxes (Local Taxes). In Malaysia, allocation in the Islamic country is there are two institutions that are in essentially valid in Malaysia as charge of taxation issues, namely the well as in Islamic countries in the Malaysian Home Products Institute classical period of applying (LHDNM) and the Ministry of various taxes as a source, as well Customs and Excise under the as Malaysia, which implements Ministry of Finance of Malaysia. the tax system as a source of LHDNM is authorized to income in Malaysia. administer country taxes such as The country's income comes individual and corporate income taxes, from indirect taxes, direct taxes, income tax on oil and gas, tax on and non tax revenue. Indirect profits from transfer of land and taxes revenue since 1960 is a type building rights, and stamp duty. While the Ministry of Customs and Excise is 5 Supangat, “Kebijakan Fiskal Negara Indonesia dalam Perspektif Ekonomi Islam”, 6Timbul Hamonangan Simanjuntak, Conomica, Vol. 04, Ed. 2, November 2013, p. 101. Penerimaan…, p. 185. 22 Baabu Al-Ilmi Vol. 4 no. 1 April 2019 authorized to administer indirect of costs and consumption and other taxes consisting of Import Duty, recognized needs of the government Customs, Sales Tax, Tax on as a whole in an effort to derive that Services. income.7 Individual tax or income tax Malaysian companies are taxable of an individual is a tax imposed not on total income received from on income received by an activities worldwide, but only income individual whether originating or received in Malaysia is taxed only. sent to Malaysia. If the source of Earnings received from outside such income is from outside Malaysia are not taxable in Malaysia.
Load more

Recommended publications
  • Arbeitskreis Quantitative Steuerlehre
    arqus Arbeitskreis Quantitative Steuerlehre www.arqus.info Diskussionsbeitrag Nr. 3 Caren Sureth / Ralf Maiterth Wealth Tax as Alternative Minimum Tax ? − The Impact of a Wealth Tax on Business Structure and Strategy − April 2005 arqus Diskussionsbeiträge zur Quantitativen Steuerlehre arqus Discussion Papers on Quantitative Tax Research ISSN 1861-8944 Wealth Tax as Alternative Minimum Tax ? – The Impact of a Wealth Tax on Business Structure and Strategy – Caren Sureth∗ † and Ralf Maiterth∗∗ April 2005 ∗ Prof. Dr. Caren Sureth, University of Paderborn, Faculty of Business Administration and Economics, Warburger Str. 100, D-33098 Paderborn, Germany, e-mail: [email protected] † corresponding author ∗∗ Dr. Ralf Maiterth, University of Hanover, Department of Economics, K¨onigsworther Platz 1, D-30167 Hanover, Germany, e-mail: [email protected] Wealth Tax as Alternative Minimum Tax ? – The Impact of a Wealth Tax on Business Structure and Strategy – Abstract An alternative minimum tax (AMT) is often regarded as desirable. We analyze a wealth tax at corporate and personal level that is designed as an AMT as proposed by the German Green Party. This wealth tax is imputable to profit taxes and is hence intended to prevent multiple (multistage) taxation. Referring to data from annual reports and the German Central Bank we model enterprises of different structure, industry, size and legal status. We show that companies in the service sector which generally maintain rather high gearing rates are more frequently subjected to the wealth tax than capital intensive industries. This result runs counter to well-known effects of a common wealth tax. Capital intensive firms, e.g. in the metal industry, are levied with definitive wealth tax only if they have large loss carry-forwards or extremely volatile profits.
    [Show full text]
  • Using Blockchain in WAQF, Wills and Inheritance Solutions in the Islamic System Submitted 15/03/21, 1St Revision 12/04/21, 2Nd Revision 30/04/21, Accepted 25/05/21
    International Journal of Economics and Business Administration Volume IX, Issue 2, 2021 pp. 101-116 Using Blockchain in WAQF, Wills and Inheritance Solutions in the Islamic System Submitted 15/03/21, 1st revision 12/04/21, 2nd revision 30/04/21, accepted 25/05/21 Walaa J. Alharthi1 Abstract: Purpose: The paper aims to provide a review of literature on the Islamic social institution of WAQF, dissecting the components of WAQF and the classic Islamic laws that guide its formation and implementation. WAQFs are Islamic social finance institutions that have played a critical role in achieving sustainable development in Islamic society. During the Ottoman era, it was operated effectively to ensure the founder's wishes until the advent of Islamic finance. The study highlights the challenges that the WAQF institution faces and the viability of the Blockchain system in mitigating these challenges and managing WAQF across the globe, which should help achieve the convectional objectives WAQF. Approach/Methodology/Design: The study reviewed the most recent research papers on the WAQF Islamic social finance institution to isolate the institution's components, legal framework and challenges, and outline the solutions Blockchain system can provide. Findings: The study shows that the main challenge obstructing the rejuvenation of the WAQF system to its lost glory has been lack of data, compromised historical records in the event of the Founders' demise, lack of transparency, and inappropriate auditing. Through smart contracts on Blockchain, there is a surety of efficacy and effective performance of WAQF institution and the realization of the founders' objectives. Practical Implications: The study will contribute positively to understanding the historical importance of WAQF as an Islamic social institution and a predecessor to Islamic finance for academia and the possibility of utilizing Blockchain systems in managing WAQF transactions across the globe.
    [Show full text]
  • Tax & Value Added Tax—In View of Bangladesh
    International Journal of Tax Economics and Management Tax & Value Added Tax—In View of Bangladesh Md. Ashiquzzaman LLB, Southeast University Email: [email protected] (Author of Correspondence) Bangladesh Abstract Most developing counties are increasingly focusing on domestic resource mobilization toward economic development. In this context, tax performance is of crucial importance, especially for a developing country, since it is the prime source for domestic resource mobilization. This article reviews the incidence of income taxation in Bangladesh tax system. The main purpose of the study is to determine how the burden of personal and corporation income taxes is allocated among taxpayers of different income groups. Bangladesh faces many problems in raising sufficient tax revenues to fund its economic and social development. To address this problem and to improve economic efficiency and growth, a major tax reform program was initiated in 1991 which centered on the introduction of a value-added tax (VAT) to replace a range of narrowly-based consumption taxes. This study works as a linkage between theory and practice on Value Added Tax. In this Article focus on the tax, Value added tax, tax in history, definition, collecting problem, advantage, and disadvantage. Keywords: Tax; NBR; Value Added Tax; Social; Corporate; Economy; Government; Bangladesh. ISSN Online: 0000-0000 ISSN Print: 0000-0000 38 1. Introduction The term ‘tax’ has been derived from the French word ‘taxe’ and etymologically, the Latin word ‘taxare’ is related to the term ‘tax’ which means ‘to charge’. ‘Taxes are compulsory payment to govt. without expectations of direct return in benefit to the tax payer’. [P.
    [Show full text]
  • Tobacco Tax Administration
    WHO TECHNICAL MANUAL ON Tobacco Tax Administration WHO TECHNICAL MANUAL ON Tobacco Tax Administration WHO Library Cataloging-in-Publication Data WHO technical manual on tobacco tax administration 1. Taxes. 2. Tobacco industry – legislation. 3.Tobacco – economics. 4. Smoking – prevention and control. I. World Health Organization. ISBN 978 92 4 156399 4 (NLM classification: WM 290) Reprinted with executive summary, 2011 © World Health Organization 2010 All rights reserved. Publications of the World Health Organization can be obtained from WHO Press, World Health Organization, 20 Avenue Appia, 1211 Geneva 27, Switzerland (tel.: +41 22 791 3264; fax: +41 22 791 4857; e-mail: [email protected]). Requests for permission to reproduce or translate WHO publications – whether for sale or for noncommercial distribution – should be addressed to WHO Press, at the above address (fax: +41 22 791 4806; e-mail: [email protected]). The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the World Health Organization concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. Dotted lines on maps represent approximate border lines for which there may not yet be full agreement. The mention of specific companies or of certain manufacturers’ products does not imply that they are endorsed or recommended by the World Health Organization in preference to others of a similar nature that are not mentioned. Errors and omissions excepted, the names of proprietary products are distinguished by initial capital letters.
    [Show full text]
  • Relationship Between Tax and Price and Global Evidence
    Relationship between tax and price and global evidence Introduction Taxes on tobacco products are often a significant component of the prices paid by consumers of these products, adding over and above the production and distribution costs and the profits made by those engaged in tobacco product manufacturing and distribution. The relationship between tax and price is complex. Even though tax increase is meant to raise the price of the product, it may not necessarily be fully passed into price increase due to interference by the industry driven by their profit motive. The industry is able to control the price to certain extent by maneuvering the producer price and also the trade margin through transfer pricing. This presentation is devoted to the structure of taxes on tobacco products, in particular of excise taxes. Outline Tax as a component of retail price Types of taxes—excise tax, import duty, VAT, other taxes Basic structures of tobacco excise taxes Types of tobacco excise systems Tax base under ad valorem excise tax system Comparison of ad valorem and specific excise regimes Uniform and tiered excise tax rates Tax as a component of retail price Domestic product Imported product VAT VAT Import duty Total tax Total tax Excise tax Excise tax Wholesale price Retail Retail price Retail & retail margin Wholesale Producer Producer & retail margin Industry profit Importer's profit price CIF value Cost of production Excise tax, import duty, VAT and other taxes as % of retail price of the most sold cigarettes brand, 2012 Total tax
    [Show full text]
  • The Grading of Waqf System in Eighteenth-Century Istanbul in Light of Istanbul Ahkâm Registers (1750-1762) M
    M. Burak BULUTTEKİN THE GRADING OF WAQF SYSTEM IN EIGHTEENTH-CENTURY ISTANBUL IN LIGHT OF ISTANBUL AHKÂM REGISTERS (1750-1762) M. Burak BULUTTEKİN ABSTRACT This study, which aims to evaluate the waqf (vakıf, charitable endowments) system of Istanbul in the eighteenth-century, is based on the grading of Istanbul Ahkâm Registers in the period of 1750-1762. In order to classify the provisions of Ahkâm Registers; (a) registry (book) numbers, (b) application areas, (c) conflict issues, (d) the social position of the litigants, (e) the religion of the litigants, and (f) application years were chosen as the basic analysis variables. Each judgement, which were based on this systematic, were examined in themselves. 192 provisions of the waqf system were determined in Istanbul Ahkâm Registers in the period of January 1750-December 1762. The analysis of this Ahkâm Books (between 3-6 books), the maximum provisions were found with 3rt part (29.7%) of them. The most problems of the waqf system of Istanbul were “revenue and accounting of the waqf” (62%), “using, devolution and istibdal (exchanging) of the waqf’s place” (60.4%) and “lease of the waqf, rental procedures and tenancy” (45.8%). Moreover, the most waqf’s problems occurred in Surici (64.1%) region. Also, the most waqf system problem in Surici and Uskudar was “istibdal (exchanging)”(respectively 95 and 10 cases) and in Haslar and Galata was “intermeddling, suppression or occupancy to the waqf’s place” (respectively 13 and 4cases). The waqf system problems of Istanbul in the eighteenth-century mostly occurred between the reaya (92.2%).
    [Show full text]
  • Role of Zakah and Awqaf in Poverty Alleviation
    Islamic Development Bank Group Islamic Research & Training Institute Role of Zakah and Awqaf in Poverty Alleviation Habib Ahmed Occasional Paper No. 8 Jeddah, Saudi Arabia b © Islamic Development Bank, 2004 Islamic Research and Training Institute, King Fahd National Library Cataloging-in-Publication Data Ahmed, Habib Role of Zakat and Awqaf in Poverty Alleviation./ Habib Ahmed- Jeddah,2004-08-03 150 P; 17X 24 cm ISBN: 9960-32-150-9 1-Zakat 2-Endownments (Islamic fiqh) 3- Waqf I-Title 252.4 dc 1425/4127 L.D. No. 1425/4127 ISBN: 9960-32-150-9 The views expressed in this book are not necessarily those of the Islamic Research and Training Institute or of the Islamic Development Bank. References and citations are allowed but must be properly acknowledged First Edition 1425H (2004) . c ﺑﺴﻢ ﺍﻪﻠﻟ ﺍﻟﺮﲪﻦ ﺍﻟﺮﺣﻴﻢ BISMILLAHIRRAHMANIRRAHIM d e CONTENTS List of Tables, Charts, Boxes, and Figures……………………….. 5 Acknowledgements..................................................................................... 9 Foreword……………………………………………………………………. 13 Executive Summary…………………………………………………… 15 1. Introduction…………………………………………………………… 19 1.1. Islamic View of Poverty……………………………………….. 20 1.2. Objectives of the Paper………………………………………… 23 1.3. Outline of the Paper……………………………………………. 23 2. Shari[ah and Historical Aspects of Zakah and Awqaf……... 25 2.1. Zakah and Awqaf in Shari[ah and Fiqh ……………………. 25 2.1.1. Zakah in Shari[ah and Fiqh………………………… 25 2.1.2. Awqaf in Shari[ah and Fiqh ………………………… 28 2.2. Historical Experiences of Zakah and Awqaf………………. 30 2.2.1. Historical Experiences of Zakah…………………….. 30 2.2.2. Historical Experiences of Awqaf…………………….. 32 2.3. Contemporary Resolutions on Zakah and Awqaf………… 35 2.3.1. Contemporary Resolutions on Zakah……………….
    [Show full text]
  • Tax Compliance in Immigrant Communities
    Tax Compliance in Immigrant Communities: Bangladeshis in the UK Submitted by Md Zakir Hossain Akhand to the University of Exeter as a thesis for the degree of Doctor of Philosophy in Accountancy In March 2018 This thesis is available for Library use on the understanding that it is copyright material and that no quotation from the thesis may be published without proper acknowledgement. I certify that all material in this thesis which is not my own work has been identified and that no material has previously been submitted and approved for the award of a degree by this or any other University. (Signature) ……………………………………………………………………………………… 1 Abstract This thesis employs Bourdieu’s theory of practice to explore small immigrant business owners’ adaptation to the host country’s income tax system. In doing this, the thesis applies a sociological perspective in the theorizing and study of their tax compliance behaviour. Drawing on a survey (N=101) and in-depth interviews (N=27) with Bangladeshi family business owners and their tax advisers in the UK, this thesis demonstrates that immigrant business owners’ engagement with the host country’s tax system is grounded in the sociocultural status they inherit from their country of origin, even though their social class positions in the new society unconsciously condition and impact on how they practise tax compliance. Findings suggest that the power relations inherent in the tax professional-taxpayer relationship act as a critical factor in the reproduction and transformation of immigrant business owners’ moral disposition towards compliance with tax laws. The thesis argues that the ways small Bangladeshi family business owners think, feel and act in their approach to tax compliance is likely to differ not only from those of native business communities but also from those of other immigrant communities in the UK.
    [Show full text]
  • ACEA Tax Guide 2018.Pdf
    2018 WWW.ACEA.BE Foreword The 2018 edition of the European Automobile Manufacturers’ Association’s annual Tax Guide provides an overview of specific taxes that are levied on motor vehicles in European countries, as well as in other key markets around the world. This comprehensive guide counts more than 300 pages, making it an indispensable tool for anyone interested in the European automotive industry and relevant policies. The 2018 Tax Guide contains all the latest information about taxes on vehicle acquisition (VAT, sales tax, registration tax), taxes on vehicle ownership (annual circulation tax, road tax) and taxes on motoring (fuel tax). Besides the 28 member states of the European Union, as well as the EFTA countries (Iceland, Norway and Switzerland), this Tax Guide also covers countries such as Brazil, China, India, Japan, Russia, South Korea, Turkey and the United States. The Tax Guide is compiled with the help of the national associations of motor vehicle manufacturers in all these countries. I would like to extend our sincere gratitude to all involved for making the latest information available for this publication. Erik Jonnaert ACEA Secretary General Copyright Reproduction of the content of this document is not permitted without the prior written consent of ACEA. Whenever reproduction is permitted, ACEA shall be referred to as source of the information. Summary EU member countries 5 EFTA 245 Other countries 254 EU member states EU summary tables 5 Austria 10 Belgium 19 Bulgaria 42 Croatia 48 Cyprus 52 Czech Republic 55 Denmark 65 Estonia 79 Finland 82 France 88 Germany 100 Greece 108 Hungary 119 Ireland 125 Italy 137 Latvia 148 Lithuania 154 Luxembourg 158 Malta 168 Netherlands 171 Poland 179 Portugal 184 Romania 194 Slovakia 198 Slovenia 211 Spain 215 Sweden 224 United Kingdom 234 01 EU summary tables Chapter prepared by Francesca Piazza [email protected] ACEA European Automobile Manufacturers’ Association Avenue des Nerviens 85 B — 1040 Brussels T.
    [Show full text]
  • Mobilization of Resources for Sustainable Economic Development CONTENTS
    April-June 2010 The Bangladesh Accountant Bangladesh The 67 Vol. 2010 April-June No. 38 Mobilization of Resources for Sustainable Economic Development CONTENTS EDITORIAL April-June 2010 Vol. 67 No. 38 Mobilization of Resources for Sustainable Economic Development 01 ACCOUNTANCY Editorial Board Global Branding of Chartered Accountancy Chairman: M Farhad Hussain FCA Profession in Bangladesh 03 Dr. Jamaluddin Ahmed FCA Associate Editor: Harun Mahmud FCA Role of Chartered Accountants in the Mobilization Members of National Resources 06 Md. Abdus Salam FCA Dr Atiur Rahman Md. Shahjahan Majumder FCA Audit Committee, Independent Director, Bangladesh Perspective 08 Md Abdus Salam FCA FCS Showkat Hossain FCA BUDGET & ECONOMICS Masih Malik Chowdhury FCA Value Added Tax in Bangladesh - An Effective Way Anwaruddin Chowdhury FCA of Internal Resource Mobilization 11 ASM Nayeem FCA M. A. Baree FCA Dr. Md. Abu Sayed Khan FCA Marginal Workers’ Benefits: The Lone fat in Company’s Income Statement! 16 Md. Humayun Kabir FCA Mohammad Zahid Hossain FCA Akhter Matin Chaudhury FCA Analysis of the National Budget of Bangladesh 2010-11: Excellences and Constraints 18 Parveen Mahmud FCA • Md. Hafij Ullah Abdur Razzaque Mollah FCA • Monir Ahmmed Md. Abdur Rashid FCA • Abu Hanifa Md. Noman Bin Alam M A Baree FCA FINANCE & BANKING Md. Nurul Haque FCA Macroeconomic Situation 25 An overview of the Ministry of Finance, GOB Kazi Ehsanul Huq FCA A Comparative Analysis of Interest Rate Parity and Md. Akbar Hossain FCA Sticky Price Model of Exchange Rate 36 Md. Sayeed Ahmed FCA Chowdhury Rajkin Mohsin How to Increase Tax Revenue: Improvement of Enabling Md. Jakir Hossain FCA Environment, Application of Strategic Management Approach 42 M.
    [Show full text]
  • Worldwide Estate and Inheritance Tax Guide
    Worldwide Estate and Inheritance Tax Guide 2021 Preface he Worldwide Estate and Inheritance trusts and foundations, settlements, Tax Guide 2021 (WEITG) is succession, statutory and forced heirship, published by the EY Private Client matrimonial regimes, testamentary Services network, which comprises documents and intestacy rules, and estate Tprofessionals from EY member tax treaty partners. The “Inheritance and firms. gift taxes at a glance” table on page 490 The 2021 edition summarizes the gift, highlights inheritance and gift taxes in all estate and inheritance tax systems 44 jurisdictions and territories. and describes wealth transfer planning For the reader’s reference, the names and considerations in 44 jurisdictions and symbols of the foreign currencies that are territories. It is relevant to the owners of mentioned in the guide are listed at the end family businesses and private companies, of the publication. managers of private capital enterprises, This publication should not be regarded executives of multinational companies and as offering a complete explanation of the other entrepreneurial and internationally tax matters referred to and is subject to mobile high-net-worth individuals. changes in the law and other applicable The content is based on information current rules. Local publications of a more detailed as of February 2021, unless otherwise nature are frequently available. Readers indicated in the text of the chapter. are advised to consult their local EY professionals for further information. Tax information The WEITG is published alongside three The chapters in the WEITG provide companion guides on broad-based taxes: information on the taxation of the the Worldwide Corporate Tax Guide, the accumulation and transfer of wealth (e.g., Worldwide Personal Tax and Immigration by gift, trust, bequest or inheritance) in Guide and the Worldwide VAT, GST and each jurisdiction, including sections on Sales Tax Guide.
    [Show full text]
  • The Dhimmis and Their Role in the Administration of the Fatimid State
    International Journal of Humanities and Social Science Vol. 6, No. 2; February 2016 The Dhimmis and their Role in the Administration of the Fatimid State Dr. Saleh Kharanbeh Lecturer of Arabic language and Islamic studies Ohalo College of Education Israel Dr. Muhammad Hamad Lecturer of Arabic language and literature Al- Qasemi College of Education Israel Abstract One of the most recurring questions today is the Islamic state's relationship with the dhimmis (Jews and Christians living under early Muslim rule) and their status in the early days of Islam and up to the late days of the Islamic Caliphate. This relationship may have been varying, swinging up and down. Perhaps the more legitimate questions are: What were the factors that affected the nature of the Dhimmis relationship with the ruling power in the Islamic state? What was the status of the Dhimmis and what roles did they play in the early Islamic states, with the Fatimid Caliphate as a model? The Fatimid Caliphate rose up and centered in Egypt, which was then home for Coptic Christians and Jews, living side by side with Muslims. That is why the author has chosen the Fatimid State, in specific. Another driver for this selection is the fact that when the Fatimid Caliphate was ruling in Egypt, the Europeans were launching their Crusades in Jerusalem, which placed such a relationship between Muslims and Christians at stake. Keywords: The Dhimmis, Fatimid State, Islamic history, Islamic civilization. 1. Internal factors in the Dhimmis relationship with the Fatimid Caliphate The caliphs’ young age was one of the factors that contributed to strengthening the relationship between the Dhimmis and the ruling power.
    [Show full text]