MCA Young Professionals Bureau DISAGREE with proposed changes to Income Tax Act

October 21, 2011 -- Proposed amendments to Section 81 of the Income Tax Act (ITA) as well as the insertion of a new Section 107 – both cases in which give unlimited power to the Director General (DG) of the Inland Revenue Board (IRB) where tax payers have no alternative measures to lodge an appeal has caused unease to all taxpayers and both foreign and domestic investors alike. In short, MCA Young Professionals Bureau chief YB Datuk Chua has described the proposed changes as a “dead-end if one is unable to comply within the notice period.”

Click Here