Publication:
The impact of International Financial Reporting Standard (IFRS) on the tax payable : the case of takaful operators

dc.contributor.affiliation#PLACEHOLDER_PARENT_METADATA_VALUE#en_US
dc.contributor.authorNur Hazlina binti Al Shaarien_US
dc.date.accessioned2024-10-08T05:19:12Z
dc.date.available2024-10-08T05:19:12Z
dc.date.issued2014
dc.description.abstractInternational 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.en_US
dc.description.callnumbert HF 5616 M4 N974I 2014en_US
dc.description.degreelevelMasteren_US
dc.description.identifierThesis : The impact of International Financial Reporting Standard (IFRS) on the tax payable : the case of takaful operators /by Nur Hazlina binti Al Shaarien_US
dc.description.identityt11100337848NurHazlinaen_US
dc.description.kulliyahIIUM Institute of Islamic Banking and Financeen_US
dc.description.notesThesis (MIIBF)--International Islamic University Malaysia, 2014en_US
dc.description.physicaldescriptionx, 64 leaves : ill. ; 30cm.en_US
dc.description.programmeMaster of Science in Islamic Banking and Financeen_US
dc.identifier.urihttps://studentrepo.iium.edu.my/handle/123456789/8316
dc.identifier.urlhttps://lib.iium.edu.my/mom/services/mom/document/getFile/uSs4mySHQ7kSRHU6ITqtgbJhmQXBV20520150528123258312
dc.language.isoenen_US
dc.publisherKuala Lumpur : International Islamic University Malaysia, 2014en_US
dc.rightsCopyright International Islamic University Malaysia
dc.subject.lcshFinancial Statements--Standards--Malaysiaen_US
dc.subject.lcshAccounting--Standards--Malaysiaen_US
dc.subject.lcshInsurance--Religious aspects--Islamen_US
dc.subject.lcshInsurance--Malaysiaen_US
dc.titleThe impact of International Financial Reporting Standard (IFRS) on the tax payable : the case of takaful operatorsen_US
dc.typeMaster Thesisen_US
dspace.entity.typePublication

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