Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Malaysia Tax Law Tuas Sdn Bhd (Tuas), a Malaysian tax resident company, started to buy shares and came out the following actions Appointed experts in

Malaysia Tax Law

image text in transcribed

Tuas Sdn Bhd (Tuas), a Malaysian tax resident company, started to buy shares and came out the following actions Appointed experts in the relevant field to monitor and carry out the activity in an organised manner (1) Borrowed funds on a short term basis to finance the purchase of shares (en) Frequently bought and sold the shares (iv) Held the shares for a relatively short period of time before selling them Tuas finance director believes the company is carrying out an investment holding activity, and is not trading in shares Which of the following statements does NOT describe one of the badges of trade? The more frequent the buying and selling of shares the more likely Tuas will be regarded as trading in shares The shorter the penod Tuas owns the shares the more likely the transactions will be regarded as a trading activity The less short-term borrowing raised to fund the activity the more likely Tuas will be regarded as trading in shares The appointment of expert managers to carry out the activities on behalf of Tuas in an organised manner is likely to indicate trading in shares

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

Step: 3

blur-text-image

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

Financial Accounting Theory

Authors: Craig Deegan

3rd Edition

0070277265, 978-0070277267

More Books

Students also viewed these Accounting questions