Donation and contribution - taxation and salvage

Donation and Contribution : - Taxation and Salvage

Deuteronomy 8: 16  Do Not Forget the Lord

Lord  gave you manna to eat in the desert, something your fathers never known, to humble and to test you so that in the end it might go well with you.

You may say to yourself, My power and the strength of my hands have produced this wealth for me. But who gives you the ability to produce wealth and so confirm his covenant, which he swore to your forefathers, as it is today

Matthew 20: 12 The parable of the workers in the vineyard

These men whose were hired last worked only one hour, they said, and you have made them equal to us who have borne the burden of the work and the heat of the day.

Donation

It proposed that the deduction for such contribution to be 10% of the aggregate income for a company

Jonah 1:4 Salvage

Then a lord sent a great wind on the sea, and such a violent storm that the ship threatened to break up.  All the sailors were afraid and each cried out to his own were afraid and each cried out to his own god. And they threw the cargo into the sea to lighten up the ship

Rationale from the Donation

Salvage is an act for rescuing stuffs from a disaster like a shipwreck or fire – or rescued good themselves. It could be simplified as to collect or rescue that sort of item, or more generally to save something from harm or ruin.

All the income that are generated for a year of assessment is required to abandon 10% of contribution from the aggregate income that to be treated as donation or salvage.

The rationale each companies is encouraged to make contribution or donation to

by abandon 10% of the portion of accumulated income generated by the owner for the business entities for critical fund or salvage as a donation to the governments. The donation or contribution of 10% from aggregate income as part of contingency fund or critical fund for the business reporting purpose in preparing the financial statements for the corporate governance as part of stakeholders in recognized the claims from various organization to be love and care to the society as stated in the greenery reports.

In walking the footprints as parts of the members corporate governance purpose in serving the well-being from the organization,. The history, reputation and performance of an organization for such recognized the stakeholders claims is able to fulfill the stakeholders demands and needs to meeting the corporate objective to make donation or contribution if any natural disasters that might trigger government to come out an assistance grants to lighten up the burden the victims of natural disasters.

Jonah 1:4 Salvage

Then a lord sent a great wind on the sea, and such a violent storm that the ship threatened to break up.  All the sailors were afraid and each cried out to his own were afraid and each cried out to his own god. And they threw the cargo into the sea to lighten up the ship

Where such natural disasters is an independent factor that might trigger the outbreak of human expectation in causing the disasters become draught land.  Lord led you through the vast and dreadful desert, that thirsty and waterless land, with its venomous snake and scorpions.

The expectation of natural disasters is depended on lord’s judgement and perceived righteousness action based on equality to the extent of degree what they are entitled to received whether such uncertainty or risks. As the victimization started to cry out about the bad climates and weathers about the unstable business uncertainty such as overtrading, tighten working capital management, high gear in financing the liabilities, industrial accidental that lead to Postraumatic Stress Disorders (PTSD) and  stress on overwhelming.

The crew threw the wealth or prosperity of their live( critical funds) that belonged into the sea in order to lighten up their burden. One of the reason that Company required to make such 10% of accumulated income  that generated for critical fund purpose. It just for such contribution to be treated as critical fund by giving adequate and sufficient timing to recognized its as critical fund to be allocated out whenever there are ready to request instead to be waited at the last minutes

Givien the fact that 10% of donation from the aggregate income to be abandoned as a salvage which is either so called a salvage.  Where such donation able to claim a deduction of 10% from that possession.  This will give rise the issues of righteousness action or not ? Where They just simply threw the cargo into the sea just to lighten up the burden. 

I would like to suggest to make a proposal to demand the Inland Revenue Board to make a changes to abandon the 10% of the aggregate income as a donation and to be treated as salvage or contribution as a critical funds to be allocated to the respective insurance organization to be recognized as accumulated critical funds in the “eyes of appearance” and mind as an “independence  critical fund” to be allocated to the PBB,  KOMANWEALTH and ASEAN

Deuteronomy 8: 16  Do Not Forget the Lord

Lord  gave you manna to eat in the desert, something your fathers never known, to humble and to test you so that in the end it might go well with you.

You may say to yourself, my power and strength of my hands have produced this wealth for me. But who gives you the ability to produce wealth and so confirm his covenant, which he aware to your forefathers, as it today.

We are entitled to seek for our survival of live by planting our crops and produce the love apples.  It would assess based on the our taxable income that the lord would grant and test your endurance and  wisdom power to humble and honour your abilities to do well accompanied with natural resources that granted by the lord with regards of the air, land, rain, sun and moon lights.

At the ended of year of assessments. You might need to assess to the year of ended assessments by making social comparative performance by comparing your revenue generated ( strength) and expenditure (covenant) in arriving the tax chargeable income in arriving the taxable income (ability to produce wealth) to be assessed in the forefather or Inland revenue Board (IRB).

Donation in Black And White

Matthew 6: 1 Giving To The Needy

Be careful not to do your acts of righteousness before men, to be seen by them. If you do, you will have no reward from your Father in heaven.

So when you give to the needy, do not announce it with trumpets, as the hypocrites do in the synagogues and on the streets, to be honoured by men. I tell you the truth, they have received their reward in full. But when you give the to the needy, do not let your left hand know what your right hand in doing. So that your giving may be in secret. Then your father, who see what is done in secret, will reward you

When you engaged any form of charity activities, you might make cash or benefit in kind contribution to the approved institution, organization or funds for an approved charitable purpose and contribution in cash or in kind for projects of national interest approved by the Ministry Finance.

According to the such acts interpretation, the business owners should disclose all the business transactions with regard of donation which is either in donation in cash or benefit in kinds to be recognized all the activities transaction’s receipts at black and white for audit trails supporting.

Under the donation part, we had been justifying that to be abandon 10% of the aggregate income as salvage donation or contribution.  It could be argued that it was a righteousness action to under such liberal act that are printed with the words of lord in the holy bible study. However, although it was righteous to do that, but whether we did like that whether we donate for the needs for victims without any rewards and joyful gifts that are expected and foreseeable to be received in the future. It means that, when you transacted any donation activities with the respective approve organization and charity institution, your sincere heart donation to the charities with the expectation for no rewards or relieve from the IRB.

Howevers, when ended of year of assessment or taxable income collection and reporting periods, and you have made them equal to us who have borne the burden of the work and the heat of the day. By telling the truth of the fact that how much donation from respective charity institution that you had donated the amounts or in kinds, you should received the rewards at the year ended of year assessments for tax computation tax chargeable income according the IRB rules.

With the incorporation of salvage to the donation substance that are crystalised as part of the introduction critical funds in front the eyes of insurance providers. We are motivating most of the nation citizen to engage more donation activities  to be involved in corporate social responsibility programme to support the government charitable institution and also the insurance industry to enhance donation collection to stimulate the growth of socio-economic systems.

Besides this, it also cultivating the multiculturalism ethnics to seek the god’s religion belief to gain a faith in performing sincere charitable activities in front of the various recognized stakeholders claims.  It help to educate the whole society and the world to have vision of determination, motivation, self confidence in one’s own ability to attain the Dharma in helping one and another in achieving the enlightenments routes and journey. Thus, it help some victimization when they are in a needs to give the assistance for helping hand. Form there, It will help to remove the obstacles to attain happiness from our own minds through a wisdom and compassion, passion and emphaty mind of state , to achieve peace, tranquility, freedom and relieve painful tossment in a way they we are seeking in Dhama light, admiring faith and aspiring faith, Thuben Gyatso, Purpose of Life.

your giving may be in secret. Then your father, who see what is done in secret, will reward you

The secret means here is Dhama light the lied in your state of happiness because our mind clings to the emotion of happiness and experience to be attached in the inner soul and heart, to believe as a pleasure as an intrinsic quality of the object pleasure, and mere acquisition of that emotions should automatically bring happiness.

Wirtter :

Yang Berhormat Datin Professor Madya Doctor Soo Wai Chooi PRINCESS