There is a wealth of tax deductions available to businesses in Malaysia but many businesses do not know about them or know how to take advantage of them. A business’ tax obligations also depend on the nature, conduct and circumstances of their business. All this, plus the myriad of periodic incentives given to businesses by the Government and the conditions attached to them, make the topic of business tax deductions intricate and challenging. But one that is well worth understanding.
Income Tax Deductions for Businesses aims to help businesses reduce their taxable income as much as possible by using tax deductions efficiently and legally. It explains the types of deductions available, the basic rules that apply to deductions in general and then delves into the details of the special rules and case laws that apply to some commonly encountered issues on business deductions.
• Deduction of outgoings and expenses
• Capital outgoings v Revenue expenses
• Specifically prohibited deductions
• Employees’ expenses
• Travelling expenses
• Self-education and subscriptions
• Business expenses
• Tax expenses
• Losses
• Interest
• Rent and repairs
• Bad debts
• EPF and other contributory payments
• Mining expenditure
• Replanting expenditure
• Research expenditure
• Stock-in-trade
• Corporate reorganisation
• Asset-backed securities
The 9th edition of Financial Accounting and Reporting in Malaysia (Volume 1) aims to develop knowledge and skills in understanding and applying the MFRSs, IFRSs, and MPERS. With a clear emphasis on local practices, accounting principles are discussed in detail to guide users on the preparation an...
This edition of the Malaysian Private Entities Reporting Standards Framework aims to keep practitioners and students up to date with the current developments in the MPERS Framework. The book focuses on accounting principles and serves to guide readers on the preparation and presentation of financ...
This edition of the Malaysian Private Entities Reporting Standards Framework aims to keep practitioners and students up to date with the current developments in the MPERS Framework. The book focuses on accounting principles and serves to guide readers on the preparation and presentation of financ...
The Malaysia Master Tax Guide is a practical, accurate, and dependable overview of the structure, characteristics, and scope of Malaysia Income tax law and practice. It describes how the legislation relates to individuals, companies, partnerships, limited liability partnerships, and other taxable...
The Malaysia Master Tax Guide is a practical, accurate, and dependable overview of the structure, characteristics, and scope of Malaysia Income tax law and practice. It describes how the legislation relates to individuals, companies, partnerships, limited liability partnerships, and other taxable...
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