Rizalman Hanif was a Malaysian citizen employed by a Malaysian Company (M.Co). In the year of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Rizalman Hanif was a Malaysian citizen employed by a Malaysian Company (M.Co). In the year of assessment 2018 (YA2018), he was resident within the meaning of Section 7 of the Income Tax Act, 1967 (ITA), despite the fact that he was present in the United States of America (USA) for 302 days during YA2018. As part of his employment with M.Co., he was required to be in the USA for the period of time mentioned above. During this time, his wages and bonuses were paid into his personal account at his bank account in Malaysia. As his duties in the USA were incidental to the exercise of his employment with M.Co, the income arising therefrom was deemed derived from Malaysia pursuant to sections 13(2)(a) and 13(2)(c) of the ITA. He paid Malaysian tax on this income, as well as federal and state taxes in the USA. He sought unilateral relief in respect of the federal tax suffered in the USA amounting to RM1,798.38. The claim was made pursuant to paragraph 15 of Schedule 7, ITA. The Inland Revenue Board (IRB) did not allow the claim on the basis that the income was not foreign income, as it was deemed derived from Malaysia pursuant to section 13(2), ITA. The issue here is unilateral relief available to Rizalman Hanif pursuant to paragraph 15, Schedule 7, ITA? Discuss by providing your argument and facts based on whether or not the unilateral relief is available to Rizalman Hanif. Rizalman Hanif was a Malaysian citizen employed by a Malaysian Company (M.Co). In the year of assessment 2018 (YA2018), he was resident within the meaning of Section 7 of the Income Tax Act, 1967 (ITA), despite the fact that he was present in the United States of America (USA) for 302 days during YA2018. As part of his employment with M.Co., he was required to be in the USA for the period of time mentioned above. During this time, his wages and bonuses were paid into his personal account at his bank account in Malaysia. As his duties in the USA were incidental to the exercise of his employment with M.Co, the income arising therefrom was deemed derived from Malaysia pursuant to sections 13(2)(a) and 13(2)(c) of the ITA. He paid Malaysian tax on this income, as well as federal and state taxes in the USA. He sought unilateral relief in respect of the federal tax suffered in the USA amounting to RM1,798.38. The claim was made pursuant to paragraph 15 of Schedule 7, ITA. The Inland Revenue Board (IRB) did not allow the claim on the basis that the income was not foreign income, as it was deemed derived from Malaysia pursuant to section 13(2), ITA. The issue here is unilateral relief available to Rizalman Hanif pursuant to paragraph 15, Schedule 7, ITA? Discuss by providing your argument and facts based on whether or not the unilateral relief is available to Rizalman Hanif.
Expert Answer:
Answer rating: 100% (QA)
There are three requirements which must be satisfied in order for unilateral relief to be available ... View the full answer
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date:
Students also viewed these accounting questions
-
If p = 7cm and q = 5cm, both to the nearest cm, find: i) ii) iii) the largest possible value of p + q the smallest possible value of p +q the largest possible value of p a the largest possible value...
-
Consider an average control chart for a known quality feature. Suppose this normally distributed feature has a sample size of five with a mean and standard error values of 74 and 0.0045 respectively....
-
The following exercises will guide you into building a simplified model of the Cathode Ray Tube's behavior. Please answer each question in your lab notebook. 1) The accelerating voltage V, which you...
-
Determine the beam column shown below is capable of safely carrying the applied loads. Given loads were determined by using LRFD provisions and bending moment diagrams are obtained from second order...
-
Nadal Corporation purchased the 10,000 shares of Cutler Inc.s common stock, on January 1, 2011, for $ 100,000. During 2011, Cutler declared and paid cash dividends to Nadal in the amount of $ 8,000....
-
Elected officials in a small Florida town are preparing the annual budget for their community. Specifically, they would like to estimate how much their constituents living in this town are typically...
-
Question: Kelly Hackworth took a leave of absence from her job at Progressive Insurance, to care for her ailing mother. When she offered to return, Progressive refused to give her the same job or one...
-
Preparing a sales budget and schedule of cash receipts McCarty Pointers Corporation expects to begin operations on January 1, 2012; it will operate as a specialty sales company that sells laser...
-
For the past two editions of the textbook, this case hasfollowed the financial condition of Detroit, Michigan. As this textgoes to print, Detroit has emerged from bankruptcy and inaccordance with M 0...
-
The price of Cilantro, Inc., stock will be either $60 or $80 at the end of the year. Call options are available with one year to expiration. T-bills currently yield 6 percent. a. Suppose the current...
-
The partnership of A, J and S has been in business for 25 years. On December 31, 2016, S decided to retire from the partnership. The partnership reported the following capital balances for each...
-
The president was the principal promoter and president of a corporation. He paid for the shares he had subscribed for. The corporation became insolvent and made an assignment for the benefit of its...
-
Question Content Area Net Present Value Carsen Sorensen, controller of Thayn Company, just received the following data associated with production of a new product: Expected annual revenues: $740,000...
-
8. An airplane is flying N75E with an airspeed of 550 mph and a 45 mph wind blowing S75E. What is the actual speed, in mph and direction, written as a bearing, of the plane? Round to the nearest 1...
-
Krystal suggests that the tax code allowing for a stepped - up basis ( a code section that allows heirs to receive inherited property with a basis that equals FMV at the time of death ) is flawed and...
-
A single - cylinder engine with a mass of 3 0 0 kg is mounted on 4 shock absorbers . When each shock absorber was left to damped vibration after assembly, 4 5 full oscillations were completed in 7...
-
Are the pairs of events described below disjoint or not, and independent or not? For each pair, select disjoint or not disjoint, and independent or dependent. Select the BEST options in each case....
-
Write the statement to store the contents of the txtAge control in an Integer variable named intAge.
-
When is a pension plan qualified? What are the advantages of a qualified pension plan?
-
On January 1, 2011, Klinefelter Company purchased a building for $520,000. The building had an estimated life of 20 years and an estimated residual value of $20,000. The company has been depreciating...
-
Crazy Computer Store sells a back to school bundle that consists of a laptop computer, printer, and tablet to a customer for $ 2,400. Crazy Computer also sells the products on a stand alone basis for...
-
Calculate \(\frac{124}{297}+\frac{3}{125}\).
-
Express \(\frac{252}{840}\) in lowest terms.
-
Calculate \(\frac{21}{40}-\frac{8}{40}\).
Study smarter with the SolutionInn App