Impact of the Government Service Tax (GST) on the Malaysian Takaful industry: issues and challenges

Malaysia is reputed to be a leader in the Takaful industry within the ASEAN region commanding a market share that exceeds 70 per cent of gross Takaful contribution. The industry however is not exempted from the recent implementation of the Malaysian Goods and Services Tax (GST) in April 2015. This s...

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Main Authors:	Che Mohd Salleh, Marhanum, Yussof, Sheila Ainon, Abdullah, Nurdianawati Irwani
Format:	Conference or Workshop Item
Language:	English English
Published:	2016
Subjects:	H Social Sciences (General) HG Finance HG8011 Insurance KBP Islamic Law
Online Access:	http://irep.iium.edu.my/54433/ http://irep.iium.edu.my/54433/ http://irep.iium.edu.my/54433/1/Fullpaper_AIC2016_UTMKL.pdf http://irep.iium.edu.my/54433/12/54443_2nd%20Asia%20International%20Conference%202016.pdf

id	iium-54433
recordtype	eprints
spelling	iium-544332017-02-08T02:21:12Z http://irep.iium.edu.my/54433/ Impact of the Government Service Tax (GST) on the Malaysian Takaful industry: issues and challenges Che Mohd Salleh, Marhanum Yussof, Sheila Ainon Abdullah, Nurdianawati Irwani H Social Sciences (General) HG Finance HG8011 Insurance KBP Islamic Law Malaysia is reputed to be a leader in the Takaful industry within the ASEAN region commanding a market share that exceeds 70 per cent of gross Takaful contribution. The industry however is not exempted from the recent implementation of the Malaysian Goods and Services Tax (GST) in April 2015. This study seeks to examine the specific Shari‘ah issues and challenges that may be triggered off by GST application on its operations. An inductive analysis will be undertaken on the relevant sources that justify GST implementation in Takaful, mainly guidelines provided by Customs Department, and also arguments from scholars on the likely contravention of Shari‘ah principles with the application of GST. This research will be significant as it will make an in-depth analysis of GST application whilst identifying the areas of non-compliances with Shari‘ah. Recommendations will be made for regulators to overcome the Shari‘ah issues and challenges that have emerged from its implementation. 2016-12-10 Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/54433/1/Fullpaper_AIC2016_UTMKL.pdf application/pdf en http://irep.iium.edu.my/54433/12/54443_2nd%20Asia%20International%20Conference%202016.pdf Che Mohd Salleh, Marhanum and Yussof, Sheila Ainon and Abdullah, Nurdianawati Irwani (2016) Impact of the Government Service Tax (GST) on the Malaysian Takaful industry: issues and challenges. In: 2nd Asia International Conference 2016, 10th-11th Dec. 2016, Kuala Lumpur. (Unpublished) http://asiamediterranean.org/
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	H Social Sciences (General) HG Finance HG8011 Insurance KBP Islamic Law
spellingShingle	H Social Sciences (General) HG Finance HG8011 Insurance KBP Islamic Law Che Mohd Salleh, Marhanum Yussof, Sheila Ainon Abdullah, Nurdianawati Irwani Impact of the Government Service Tax (GST) on the Malaysian Takaful industry: issues and challenges
description	Malaysia is reputed to be a leader in the Takaful industry within the ASEAN region commanding a market share that exceeds 70 per cent of gross Takaful contribution. The industry however is not exempted from the recent implementation of the Malaysian Goods and Services Tax (GST) in April 2015. This study seeks to examine the specific Shari‘ah issues and challenges that may be triggered off by GST application on its operations. An inductive analysis will be undertaken on the relevant sources that justify GST implementation in Takaful, mainly guidelines provided by Customs Department, and also arguments from scholars on the likely contravention of Shari‘ah principles with the application of GST. This research will be significant as it will make an in-depth analysis of GST application whilst identifying the areas of non-compliances with Shari‘ah. Recommendations will be made for regulators to overcome the Shari‘ah issues and challenges that have emerged from its implementation.
format	Conference or Workshop Item
author	Che Mohd Salleh, Marhanum Yussof, Sheila Ainon Abdullah, Nurdianawati Irwani
author_facet	Che Mohd Salleh, Marhanum Yussof, Sheila Ainon Abdullah, Nurdianawati Irwani
author_sort	Che Mohd Salleh, Marhanum
title	Impact of the Government Service Tax (GST) on the Malaysian Takaful industry: issues and challenges
title_short	Impact of the Government Service Tax (GST) on the Malaysian Takaful industry: issues and challenges
title_full	Impact of the Government Service Tax (GST) on the Malaysian Takaful industry: issues and challenges
title_fullStr	Impact of the Government Service Tax (GST) on the Malaysian Takaful industry: issues and challenges
title_full_unstemmed	Impact of the Government Service Tax (GST) on the Malaysian Takaful industry: issues and challenges
title_sort	impact of the government service tax (gst) on the malaysian takaful industry: issues and challenges
publishDate	2016
url	http://irep.iium.edu.my/54433/ http://irep.iium.edu.my/54433/ http://irep.iium.edu.my/54433/1/Fullpaper_AIC2016_UTMKL.pdf http://irep.iium.edu.my/54433/12/54443_2nd%20Asia%20International%20Conference%202016.pdf
first_indexed	2023-09-18T21:17:02Z
last_indexed	2023-09-18T21:17:02Z
_version_	1777411631277408256

Impact of the Government Service Tax (GST) on the Malaysian Takaful industry: issues and challenges

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