Accounting

From year of assessment 2014, for loans or advances to directors, the company will be deemed to have derived an interest income from it. Interest is calculated on the the balance of the loan or advance at the end of each month and the aggregate of the monthly interests would be taken as income for…

Year of assessment 2017 Company with paid up capital of RM2.5 million and below at the beginning of the basis period: On first RM 500,000 chargeable income 18% On subsequent chargeable income 24% Company with paid up capital above RM2.5 million at the beginning of the basis period – 24% Year of assessment 2016 Company…