Choose the CORRECT statement about company income tax. A. Companies need to keep records and books of account for a year for review by the Inland Revenue Board (LHDN) B. Company tax is levied every two years. C. Tax is levied on companies earning income in Malaysia and outside Malaysia for insurance companies, sea and air transport and banking. D. Company income tax is imposed on resident companies with limited status only, excluding private limited companies.
Choose the CORRECT statement about company income tax. A. Companies need to keep records and books of account for a year for review by the Inland Revenue Board (LHDN) B. Company tax is levied every two years. C. Tax is levied on companies earning income in Malaysia and outside Malaysia for insurance companies, sea and air transport and banking. D. Company income tax is imposed on resident companies with limited status only, excluding private limited companies.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Choose the CORRECT statement about company income tax.
A.
Companies need to keep records and books of account for a year for review by the Inland Revenue Board (LHDN)
B.
Company tax is levied every two years.
C.
Tax is levied on companies earning income in Malaysia and outside Malaysia for insurance companies, sea and air transport and banking.
D.
Company income tax is imposed on resident companies with limited status only, excluding private limited companies.
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