The Chartered Tax Institute of Malaysia (CTIM) has promoted the formation of a trust body called the Malaysian Tax Research Foundation (Foundation) on 11 June 2011 under the provisions of the Trustees (Incorporation) Act, 1952. The Foundation is a body corporate separate and distinct from CTIM.
The Foundation is specifically created for the promotion, encouragement and advancement of tax research in Malaysia and is currently the only such body in Malaysia. The objectives of the Foundation include the following:
- To put Malaysia in the forefront of taxation-related studies, through promoting an interest in tax research amongst Malaysians, by providing assistance in tax-related research work.
- To bridge the divergence between taxation law and accounting standards.
- To undertake research on the impact of any proposals for changes in tax legislation and tax administration.
- To provide scholarships to those undertaking tax research in universities.
- To encourage and promote the advancement of knowledge in taxation.
- To carry out such other legally charitable purposes for the advancement of education and training in the tax profession.
- To cooperate with other bodies and institutions with similar aims and objectives.
- To publish and disseminate literature on advancement of taxation.
The Foundation is independent from CTIM and is managed by six Trustees - eminent representatives of the tax profession and their respective organisations - Datuk Aziyah Bahauddin, Tan Sri Dato' Hasmah Abdullah, Mr SM Thanneermalai, Mr Khoo Chin Guan, Dr Veerinderjeet Singh and Dr Yeah Kim Leng. The Foundation is now embarking on various activities to meet its objectives, one of which being the promotion of the Foundation to its key stakeholders, including, but not limited to, professional tax practitioners and accountants, industry leaders and their respective organisations, academicians and educational institutions and the policy makers. Several broad areas of research which have been identified include:
- A survey of tax research in Malaysia and suggestions for future direction.
- Evaluation of the effectiveness of the various fiscal incentives accorded by the Government.
- Comparative study of individual taxation regime, in particular, the tax reliefs, tax bands structure, and tax rates, and its effect on attracting talents to Malaysia.
- Evaluation of tax measures relating to environmental protection.
The Trustees are seeking funding contributions, ideas and proposals from its like-minded stakeholders and look forward to your support in achieving the ultimate success of the Foundation. The Inland Revenue Board has approved the Foundation's application under Section 44(6) whereby donations made to the Foundation are tax deductible for the donors, and are exempted from tax in the hands of the Foundation.
The Foundation is one of the initiatives by CTIM to advance the interest of the tax profession. We strongly encourage members to support the Foundation financially by making monetary contribution(donation) and to provide ideas for research proposals. Please contact the Trustees/ Foundation secretariat at the CTIM office: Tel: +603-2162 8989, Fax: +603-2162 8990 or email: email@example.com.