Reference no: EM132598454
1. Explain the theory of "Double dividend of taxation".
2. Provide the exception to the rules of determining the scope of the charge to the Malaysian Income Tax.
3. Provide the tax privileges a resident company enjoys as compared to their non-resident counterpart.
4.a) Explain why Customs (Amendment) Act 2018 and Free Zones(Amendment) Act 2018 was introduced by Parliament.
b) Provide the requirements of issuing invoices under the Sales Tax Act 2018.
5. Provide the types of income subject to Income Tax in Malaysia.
6. Norman and Sarah who are married, are both Malaysian tax residents. They have an eight-year-old daughter, Misha. Details of Norman 's employment income and amounts expended for the year of assessment (YA) 2018 are as follows:
(1) Salary for the year of RM60,000.
(2) Performance incentive of RM2,000 for YA 2019, paid on 3 March 2020.
(3) The use of a new car costing RM40,000 provided to him for the entire year without fuel.
(4) Social security contributions (SOCSO) of RM8,000.
(5) The minimum employment provident fund (EPF) contributions of 11% were deducted from his salary.
(6) A cash donation of RM25,000 made to Perpustakaan Negara.
(7) Sarah operates sole proprietorship cake house business. She also rents out a property located in Malaysia which she holds for investment purposes.
Compute the income tax payable for the year of assessment 2019 by:
a) Norman
b) Sarah
Attachment:- Taxation-QP.rar
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