How should we judge a government?

In Malaysia, if you don't watch television or read newspapers, you are uninformed; but if you do, you are misinformed!

"If you're not careful, the newspapers will have you hating the people who are being oppressed, and loving the people who are doing the oppressing." - Malcolm X

Never argue with stupid people, they will drag you down to their level and then beat you with experience - Mark Twain
Never argue with an idiot, otherwise people won't know which one of you is the idiot.
Since light travels faster than sound, some people appears bright - until you hear them speak.

Why we should be against censorship in a court of law: Publicity is the very soul of justice … it keeps the judge himself, while trying, under trial. - Jeremy Bentham

"Our government is like a baby's alimentary canal, with a happy appetite at one end and no responsibility at the other. " - Ronald Reagan


Government fed by the people

Government fed by the people

Career options

Career options
I suggest government... because nobody has ever been caught.

Corruption so prevalent it affects English language?

Corruption so prevalent it affects English language?

When there's too much dirt...

When there's too much dirt...
We need better tools... to cover up mega corruptions.

Prevent bullying now!

Prevent bullying now!
If you're not going to speak up, how is the world supposed to know you exist? “Orang boleh pandai setinggi langit, tapi selama ia tidak menulis, ia akan hilang di dalam masyarakat dan dari sejarah.” - Ananta Prameodya Toer (Your intellect may soar to the sky but if you do not write, you will be lost from society and to history.)

Saturday, June 02, 2012

A bit on charging expenses to company's accounts

Some people do not realise that by charging a non-allowable (for tax) expense, the company bears the full cost. If it is allowable as a deduction for tax, then the company saves 25% (current corporation tax rate) of the expense amount.

Recently, an expose showed all kinds of personal expenses like international airfares, food and hotel expenses were charged into a high-profile company. If the company is owned by all five members of a family and all the expenses were incurred by them, then the expenses borne by the company would be fair enough, though not exactly welcome by any financial controller. If huge sums relating to personal expenses are charged into a company's accounts as of their right of being directors, then the company must have sufficient funds to sustain such outgoings over the years. Having good recurring incomes would help, though not financially wise, because it would mean poor allocation of limited funds which should rightly go into necessary capital expenditure or investment, for example.

If directors' expenses are charged into the company's accounts as a routine because of the use of credit cards issued to the company or paid by it, they can still be adjusted, if deemed personal, by debiting the respective directors' accounts in the company. What I am trying to get at is that if the directors insist on the company bearing all such expenses regardless of whether it is deemed personal and therefore not allowable as tax deductions, then the other shareholders who are not directors (which is common in most companies) would in effect bear their portion of the cost of directors' personal expenses. This is especially unfair where the amounts involved are disproportionate to the company's income.
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