The top official from the income tax department should be included in the task force investigating the Wall Street Journal’s allegations.
About a decade ago, my father was bed-ridden, and I bought a ripple mattress to ease his considerable discomfort. When I tried to claim this as a deduction as part of the deductions allowed by the Income Tax Department in my tax return, I was called up and told to report to the Income Tax Department.
I duly attended with all supporting documents, but I was politely told that by the Income Tax officers that a ripple mattress was not allowed as a taxable deduction under expenses incurred for supporting medical equipment for parents. Only special equipment (presumably like wheelchairs) was allowed.
I failed to see the logic. But it wasn’t big bucks anyway, and I was pleased to see our Income Tax Department folks being so diligent.
Now we have all heard stories of how Income Tax Department officer stake out businesses like street food vendors to estimate what their real sales. This is to ensure that these are properly reported in their tax returns.
The Income Tax department officers, no doubt, are also – or should be – on the lookout for those living beyond their means, especially civil servants on a fixed income.
But is the Income Tax Department missing the wood for the trees?
So given the size of the deposits mentioned in the WSJ report, I feel the task force must include a top official from the Income Tax Department to find out whether these deposits should be taxable and if so, were they properly reported in tax returns.
But will this top Income Tax official be independent from the Finance Minister, who is also the Prime Minister?
No wonder, people have been calling on the prime minister to go on leave until the investigations are concluded.
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“I welcome the proposal that the authorities should stop investigating the banking affairs of Dato Sri Najib but instead investigate the allegation by Tunku Aziz that I lost RM600 million in the 80’s,” Tun M said in his popular blog chedet yesterday.
The joke is Najib dare not take on the old man is any way.
IGP was also closing one eye despite the old man openly declared his plan to topple PM.
Finance minister, Husni, declared that the accounts of 1MDB had nothing wrong, cleared !!!
I think they used the method of “you help me i help you” to investigate and audit the accounts !!!
Let us see whether Mr PM will sue the WSJ. Some can be fooled but not all. Malaysia can !!!
The accounts might be correct but do they consider if certain transactions are over or under-priced? Are units in Singapore and certain investments really recoverable?
No doubt there is a large hue and cry about the 1mdb scandal, however, there is nothing much we can do about it if the rakyat remain complacent and have the could not care less attitude.
Most of all, all this cry will become meaningless and waste of time if the rakyat can be easily conned with some sweet talks and goodies. What i am to say here is, the rakyat are largely ignorant, and please allow me to put it bluntly, STUPID !!! It has been more than 50 years…
As the MARA scandal is not covered in this blog, watch this clip:
Bagaimana Skandal MARA Boleh Terbongkar
https://www.youtube.com/watch?v=pM2mdRtPUeM
Not only Najib and Rosmah be investigated but their children too, in particular Riza Aziz (Najib’s’stepson) – the instant multi-millionaire.
The Income Tax dept is a joke, they will only go after everybody but the ruling party people & civil servants. Also only 5% pay their taxes, the rest either route their tax amounts to zakat or through tax avoidance. They are sub servant to umno.
Najib and Rosmah must publicly declare their assets urgently, and explain all accumulated wealth and monetary income, after it was revealed on July 2 that RM2.6 billion (US$700 million) was transferred to Najib’s private bank accounts, and RM2 million to Rosmah’s AffinBank account.
No point declaring as the money could have gone to Kazakstan.