Shohora Sdn Bhd (SSB) has been in the business of foods variety since 2015. The share...

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Shohora Sdn Bhd (SSB) has been in the business of foods variety since 2015. The share capital of 500,000 of SSB is fully owned by Malaysians. For the year ended 31.12.2019, its profit and loss account are as follows: RM RM Sales 950, 000 Less: Operating expenses Payroll cost Note 1 240,000 Advertisement Note 2 10,000 Professional fees Consultancy fees Bad debt written of Note 3 18,200 16,000 10,000 Utilities 6,500 Depreciation 5,000 Penalty expenses Note 4 2,400 Repair and maintenance Note 5 25,000 Halal registration fee 15,000 Entertainment (388, 100) Note 6 40,000 Profit before taxation 561,900 Note: 1. Payroll cost Salary paid to a disabled staff member (duly certified by the relevant authorities) amount RM 72, 000 2. Advertisement The company owns the Malaysian hrand of foods. The Malaysian Brand is registered ana trademark in Malaysia. The brandod goods are of expot quality. The company adventised its brandod good through the local news paper and travel catalogue 3. Professional fees Taxation fees RM 2500 Accounting and audit fees RM 7,00 Professional fees for new launch project at Kuala Lumpur RM 7,900 4. Penalty espenses Penalty expenses for tax tate sabenission RM 2,400. S. Repair and Maintenance The repairs and maintenance expenses inclade the cost of purchasing a tahle of RM K000 6. Entertainment Saff lauanches and refreshments RM 7,000 Promotional gifts (company own products) RM 10,000 Entertainment allowances for marketing staff RM 23000 1. Additional information Year Qualitying Initial Asset Annual Acquire Expenditure Allowance Allemance Cost Rate % Rate RM Cooking oven Automatic cooking mixer 2018 122000 20 14 2018 234,000 20 14 Computer 2016 40,000 20 10 Furniture and Fittings 2016 25,000 20 10 Air conditioner Motor vehicle 2016 10,000 20 10 2016 80,000 20 20 In Year Assessment (YA) 2019 Shohora Sdn Bhd decided to: L. dispose their motor vehicle at price of RM 55,000. 2 dispose Computer at perice of RM 30, 000 Required: Compute the tax payable for the company for the year of assesment (YA) 2019. Shohora Sdn Bhd (SSB) has been in the business of foods variety since 2015. The share capital of 500,000 of SSB is fully owned by Malaysians. For the year ended 31.12.2019, its profit and loss account are as follows: RM RM Sales 950, 000 Less: Operating expenses Payroll cost Note 1 240,000 Advertisement Note 2 10,000 Professional fees Consultancy fees Bad debt written of Note 3 18,200 16,000 10,000 Utilities 6,500 Depreciation 5,000 Penalty expenses Note 4 2,400 Repair and maintenance Note 5 25,000 Halal registration fee 15,000 Entertainment (388, 100) Note 6 40,000 Profit before taxation 561,900 Note: 1. Payroll cost Salary paid to a disabled staff member (duly certified by the relevant authorities) amount RM 72, 000 2. Advertisement The company owns the Malaysian hrand of foods. The Malaysian Brand is registered ana trademark in Malaysia. The brandod goods are of expot quality. The company adventised its brandod good through the local news paper and travel catalogue 3. Professional fees Taxation fees RM 2500 Accounting and audit fees RM 7,00 Professional fees for new launch project at Kuala Lumpur RM 7,900 4. Penalty espenses Penalty expenses for tax tate sabenission RM 2,400. S. Repair and Maintenance The repairs and maintenance expenses inclade the cost of purchasing a tahle of RM K000 6. Entertainment Saff lauanches and refreshments RM 7,000 Promotional gifts (company own products) RM 10,000 Entertainment allowances for marketing staff RM 23000 1. Additional information Year Qualitying Initial Asset Annual Acquire Expenditure Allowance Allemance Cost Rate % Rate RM Cooking oven Automatic cooking mixer 2018 122000 20 14 2018 234,000 20 14 Computer 2016 40,000 20 10 Furniture and Fittings 2016 25,000 20 10 Air conditioner Motor vehicle 2016 10,000 20 10 2016 80,000 20 20 In Year Assessment (YA) 2019 Shohora Sdn Bhd decided to: L. dispose their motor vehicle at price of RM 55,000. 2 dispose Computer at perice of RM 30, 000 Required: Compute the tax payable for the company for the year of assesment (YA) 2019.

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Shohora Sdn Bhd SSB Tax computation for YA 2019 Particulars Amount Amount Net Profit 561900 Add Non ... View the full answer