Tax reform is the process of improving the way taxes are collected or managed by the government. This week, we examine the tax reforms undertaken in several countries, including Malaysia.
TAX reform is the process of improving the way taxes are collected or managed by the Government. These can have different aims. While certain reforms seek to lower the level of tax for all or seek to make the tax system somewhat progressive, others may try to make the tax system more understandable, or more accountable. A tax reform may involve changes in tax rates, adjustments to thresholds, abolishment of existing taxes or creation of new tax legislations.