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5. Gold Oil Bhd is an oil and gas company registered in Malaysia. During the year, the company is involved in the following business
5. Gold Oil Bhd is an oil and gas company registered in Malaysia. During the year, the company is involved in the following business dealings in Malaysia: Gold Oil Bhd paid RM300,000 to Rig Corporation, an Indonesia company, to build oil rigs off the coast of Malaysia. Rig Corporation brought its own staff from its home country for the development. Gold Oil Berhad rented a helicopter to facilitate the travel from the land to the oil rig from Heli Corp, a company registered in Singapore, with the followings payments: O A 10-month rental fee for a helicopter amounts to RM100,000. The mechanics' fee for regular repair and maintenance of the helicopter amounts to RM30,000. The Heli Corp's mechanics were in Malaysia for one month during the year. For the remainder of the period, the services were provided through online consultancy with Gold Oil Berhad's own mechanics in Malaysia. Heli Corp supplied oil lubricant and parts for the helicopter's maintenance amounting to RM25,000. Gold Oil Bhd obtained a loan from the Bank of Brunei to finance its working capital operation in Malaysia. Total interest payable on the loan amounts to RM15,000. Gold Oil Berhad sponsored Habib Syech Abdul Kadir Assegaf and his team from Indonesia for an event in Malaysia with a RM20,000 honorarium fee and RM12,000 for lodging and transportation. For each expenditure above, justify the withholding tax applicability and compute where necessary. Present your answer using a table. (20 marks)
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