Business and investment operations of individuals and companies are becoming increasingly international in scope in the wake of current wave of globalisation and liberalisation sweeping across the countries of the world. Income tax systems of different countries differ in terms of definition of income, exemptions, concessions, rates and collection procedures. Varying tax practices of different countries complicate decision-making of individuals and corporates. Hence, the comparative study of income tax becomes relevant in this context. This book explains and compares the income tax provisions of six countries, three developed countries, viz. the U.K., the U.S., and Australia and three developing countries, namely, Malaysia, Pakistan and India. The book will be useful for a cross-section of readers including researchers, teachers and students of economics, commerce, law and management. The critical analysis of the income tax systems of six countries would also be beneficial for policy makers, legislators, corporate executives and tax consultants.
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