Dr Rafiq (right), Barbara James (middle), and Dr Frederica (left) with the audience during UCSF’s Financial Literacy Programme.
KOTA KINABALU: The University College Sabah Foundation (UCSF) recently organised its third Financial Literacy Talk of the year, held at the UCSF Lobby, with a focus on the topic of taxation.
UCSF Vice Chancellor Datuk Dr Rafiq Idris, who officiated the event, underscored the value of the Financial Literacy Programme, which complements students’ regular coursework.
“Our objective is to raise awareness about financial matters,” he stated. “We aspire to produce students who are not only green literate but also digitally and financially literate.”
The programme featured Barbara James, a newly retired tax expert from the Inland Revenue Board (LHDN), as the keynote speaker. She delivered an in-depth presentation on direct and indirect taxes, explaining how tax revenues are utilised to fund essential services such as national security, healthcare, education and infrastructure development.
Barbara also addressed taxation in the context of emerging economic activities, such as e-hailing, social media influencing, freelancing, photography and personal shopping. She highlighted how these activities can incur income tax obligations and emphasised the importance of tax relief in managing tax liabilities. Additionally, she discussed contemporary policies, such as the introduction of e-invoicing.
Dr Frederica Mojilis, Coordinator of the Financial Literacy Programme at UCSF, provided further insights into indirect taxes, including Export Duty, Import Duty, Excise Duties, Sales and Service Tax and Tourism Tax. She explained how these taxes influence consumer behavior and broader economic variables.
The event drew over 200 students, who actively participated and engaged with the content. UCSF hopes that such initiatives will spark students’ interest in financial matters and enhance their financial literacy.
