Question
A Public Ruling is published as a guide for the public and officers of the Inland Revenue Board of Malaysia. It sets out the interpretation
A Public Ruling is published as a guide for the public and officers of the Inland Revenue Board of Malaysia. It sets out the interpretation of the Director General of Inland Revenue in respect of the particular tax law and the policy as well as the procedure applicable to it. The basis period for a year of assessment (YA) is important in determining the imposition of income tax for each person/ organisation.
As for this pair assignment, you need to explain the differences and similarities between basis period use for the company purpose and for the individual/ partnership purpose. You also need to portray an example for every similarities and differences. In addition, you need to explain the meaning of failure year and give an example. You may refer the public ruling 2014 (PR8 2014) and public ruling 2017 (PR4 2017). Your work will be assessed based on the clarification, factual evidence and logical explanation
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