Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Baltex Sdn Bhd, a fund management company, derived the following income for the year ended 31 December 2020: Foreign Investors Local Investors RM'000 RM'000 RM'000

Baltex Sdn Bhd, a fund management company, derived the following income for the year ended 31 December 2020:

image text in transcribed
Foreign Investors Local Investors RM'000 RM'000 RM'000 RM'000 Revenue 6,000 4,000 Less: Operating Cost Staff remuneration 1,800 1,000 Rent 200 200 Telecommunication costs 400 200 Statutory fees 40 40 Other operating costs 2,000 1,200 Depreciation 200 200 Total operating costs before tax 4,640 2,840 Profit 1,360 1,160 Capital allowance allowed for foreign investors amounted to RM160,000 and for local investors amounted to RM200,000. REQUIRED: Calculate tax payable by Baltex Son Bhd both for local and foreign investors for the year of assessment 2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Computer Accounting

Authors: Donna Kay

15th Edition

0077826841, 9780077826840

More Books

Students also viewed these Accounting questions

Question

1. To take in the necessary information,

Answered: 1 week ago