The impact of International Financial Reporting Standard (IFRS) on the tax payable : the case of takaful operators /
International Financial Reporting Standard ( IFRS ) has been announced to be adopted fully in Malaysia starting from 1st January 2012. All business entities including Islamic banks and financial institutions in Malaysia have to follow this new accounting guideline. As for conventional insurers, they...
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| Main Author: | |
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| Format: | Thesis |
| Language: | English |
| Published: |
Kuala Lumpur :
Institute of Islamic Banking and Finance, International Islamic University Malaysia,
2014
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| Subjects: | |
| Online Access: | Click here to view 1st 24 pages of the thesis. Members can view fulltext at the specified PCs in the library. |
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| 008 | 150102t2014 my a g m 000 0 eng d | ||
| 040 | |a UIAM |b eng | ||
| 041 | |a eng | ||
| 043 | |a a-my--- | ||
| 050 | |a HF5616.M4 | ||
| 100 | 0 | |a Nur Hazlina binti Al Shaari | |
| 245 | 1 | |a The impact of International Financial Reporting Standard (IFRS) on the tax payable : |b the case of takaful operators / |c by Nur Hazlina binti Al Shaari | |
| 260 | |a Kuala Lumpur : |b Institute of Islamic Banking and Finance, International Islamic University Malaysia, |c 2014 | ||
| 300 | |a x, 64 leaves : |b ill. ; |c 30cm. | ||
| 500 | |a Abstracts in English and Arabic. | ||
| 500 | |a " A research paper submitted in fulfilment of the requirement for the degree of Master of Science in Islamic Banking and Finance."--On t. p. | ||
| 502 | |a Thesis (MIIBF)--International Islamic University Malaysia, 2014. | ||
| 504 | |a Includes bibliographical references (leaves 55-57). | ||
| 520 | |a International Financial Reporting Standard ( IFRS ) has been announced to be adopted fully in Malaysia starting from 1st January 2012. All business entities including Islamic banks and financial institutions in Malaysia have to follow this new accounting guideline. As for conventional insurers, they have to adhere to the requirement of IFRS 4. Islamic insurer which is known as takaful operators also have to apply IFRS 4 in their financial reporting. The purpose of this research is to study the impact of IFRS 4 and also other IFRS on the tax payable of the takaful operators. The study is significant in order to ensure that adoption of the IFRS will not jeorpadize the takaful business and at the same time can be at level playing field with the conventional insurer. Primary data collection is done by interviewing the tax agents and officers of Inland Revenue Board of Malaysia ( IRB ). The result of the interview revealed that there is no impact on the tax payable of takaful operators even though IFRS has been adopted. All of the interviewees agreed that the way financial transactions are recorded may be different. However, tax for takaful operators still can be computed based on the current provision of income tax law. As for now tax for the takaful operators is governed by Section 60 AA of the Income Tax Act 1967. Since IFRS has no impact on the tax computation for the takaful operators, there is no need to change, repeal or amend the existing provision. | ||
| 596 | |a 1 | ||
| 650 | |a Financial Statements |x Standards |z Malaysia | ||
| 650 | |a Accounting |x Standards |z Malaysia | ||
| 650 | |a Insurance |x Religious aspects Islam | ||
| 650 | |a Insurance |z Malaysia | ||
| 655 | 7 | |a Theses, IIUM local | |
| 690 | |a Dissertations, Academic |x Institute of Islamic Banking and Finance. |z IIUM | ||
| 710 | 2 | |a International Islamic University Malaysia. |b Institute of Islamic Banking and Finance. | |
| 856 | 4 | |u https://lib.iium.edu.my/mom/services/mom/document/getFile/uSs4mySHQ7kSRHU6ITqtgbJhmQXBV20520150528123258312 |z Click here to view 1st 24 pages of the thesis. Members can view fulltext at the specified PCs in the library. | |
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