Others Flashcards
1
Q
AIE %
- significant increase
- penetrate
- awatd
A
- 30
- 50
- 100
2
Q
AIE % value added : 1. 30% 2. 50% 3. Agri product
A
10,15,10
3
Q
MITC QC
A
- incorp in msia
- matrade
- at least 60% msian holder
- annual sales at least 10m
- not more than 20% annual sales from trading commodities
- use local services
4
Q
ITA & RA withdrawal
A
< 2 & 5 years
5
Q
ITA %
A
50 % QCE
-in house rnd
100 % QCE
- PApp
- tvet
- contract & rnd co
100% S1
- high tech
- medical devices
6
Q
IHC
- det ihc %
A
total investment income \ total income (not inc gain on disposal & income not remit in msia)
> 80%
7
Q
UIHC vs Unit trust
formula PE
A
UHIC
-aXb/4c @ 5%B (wil)
UT
-10% x A (WIH)
8
Q
Financing
- inventory
- TR
A
- Inventory
- gc : mv@ cl date / cost incurred
- cease : sales proceed - TR
- DD : NDE
- specific : DE
- recover : NT
- irrecover : NDE
9
Q
Tax Admin
- submit est tax
- revised est tax
- time bar
- sme
- submit tax est (commence)
- instalment
- penalty exceed 30%
- addi assessment : due & payable
- tax appeal
- irb response
- issue cert + penalty
A
- 1st date month b4 bp start
- 6th /9th
- 5 ys aft YA expire
- no need to submit 2 YAs
- 3 months after commence
- 6th months of BP 15th
- 10% excessive diff
- due : on addi assessment date; payable : w/in 30 days
- 30 days
- 12 m + 6m
- w/in 3 months from change ;
fine 200-20k +6 months
10
Q
LOBATA
- non citizen director of Labuan
- Non citizen mgr
- Msian citizen
- Labuan entities (prof)
A
- 100% director fees
- 50 % gross emp inc
- 50 % gross housing loan + territory allowance
- 65 % SI
11
Q
Stamp duty. QC
- recon/ amalgamation
- transfer of property btw. assoc cos
A
- acq share of existing co
- acq not less than 90%
- consideration nit less than 90 % of issued shares of acquiring co
- sales with 12 m of acquiring
- eligible:
- assoc co
- efficiency
- transferee incorp in msia
extend :
- transfer tecd by non assoc co
- property prev transfer by an acquiring co
- cease assoc
- dispose property w/in 3 years
12
Q
WHT
non compliance
- late remit
- incorrect return
A
- 10% unpaid WHt
- disallow the deduction (temporary) - up to 100 % tax undercharged
before due date ( still can deduct)
after due date (cannot)
13
Q
WHT - derivation of Royalty & special class of income
A
- payment from gov
- payment by resident
- exp charge as outgoing expenses
14
Q
Determine PE
A
- Fixed base
- dependent agent
- turn into contract on behalf
- incidental wth employer biz
- not preparatory auxiliary in nature
15
Q
Formula RPGT
A
DP - DE - IC
(-)
AP + IC - DID
