I just realised how shallow my knowledge is on TAX. There are so many more laws and regulations regarding Malaysia tax that are yet to be discovered. I realised that what i have been learning and knowing so far is so shallow.Not just in TAX, perhaps in many more fields. In real world, i doubted my ability to survive.
I did not know where is the promoted areas or should i say, i never realised its existence.( Promoted areas: Sabah, Sarawak, Perlis, Easter Corridor like Kelantan, Terengganu, Pahang and District of Mersing in Johor)
I did not know in details the restriction of S33(2) Interest Restriction.( N/A when Individual less than Rm 6k, Companies less than RM 10k. Interest allowable for trade related activities)
Lots more on tranfer pricing, lots more on reinvestment allowance, lots more on the IRB rules and penalty for inaccurate tax estimates, lots more on ex-gratia payment, lots more of Double taxation etc etc.
To be frank, i know very little of them.
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Today is Stage1 for Deloitte Tax challenge 2010 individual level. Well, i participated.
I just did my best, banking not a really big hope to be qualified to the second stage. When i read through past year questions on both stage two and three, i feel discouraged.
Tomorow would be Internal Quiz for IVAQ--> i know it would be another "killing my self-esteem" moment for me to realise how little that i had actually learned.
Aiks. really need to do more research and update myself with more news as well...
JUST WISH ME LUCK
1 comment:
yup, not u alone felt that way...it crossed my mind too that my knowledge is so lil...i practically google n "book"gle the whole 42 questions..hahha..dont worry, we'll learn as we walk thru..
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