Dr. Oriana Percival, who is a British national, is a pharmacologist working in a pharmaceutical firm...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Dr. Oriana Percival, who is a British national, is a pharmacologist working in a pharmaceutical firm which headquarters in Oslo, Norway. The job requires her to be constantly relocated across the globe to serve the firm's numerous research laboratories and clinical studies. In January 2018, Dr. Oriana is seconded to Malaysia for a period of three years to collaborate with the Ministry of Health, Malaysia in developing a new dengue vaccine. One of the terms of her transfer states that she is to receive her monthly salary and relocation benefits through her bank account maintained in the Bank of Oslo, Norway. II. Vinnie Chu is a sales agent for LV Fashion House Bhd., which is based in Kuala Lumpur. Besides from her employment, she gains additional income through her online fashion business. In order to avoid any potential conflict of interest with her employer, Vinnie has registered her online business in Vietnam and operated it solely in the market there. The profit from the online business is later transferred into Vinnie's Malaysian bank account at the end of each financial year. iii. Severus and Septimus are the founding partners of Severus, Septimus & Associates, which is a Malaysian-based audit firm with presence in several other neighbouring countries. By invitation of a Vietnamese counterpart, Severus and Septimus have expanded their practice and opened a branch in Hanoi to serve its growing market. Severus, Septimus & Associates of Hanoi branch has been successfully established in 2016. It currently employs sixteen Vietnamese auditors and serves eighteen multinational corporations based in the country. In the financial year 2018, the branch has recorded an income of VND1.25 million. Required: Explain, with reasons, whether the income in each of the above situations is liable to income tax in Malaysia. Dr. Oriana Percival, who is a British national, is a pharmacologist working in a pharmaceutical firm which headquarters in Oslo, Norway. The job requires her to be constantly relocated across the globe to serve the firm's numerous research laboratories and clinical studies. In January 2018, Dr. Oriana is seconded to Malaysia for a period of three years to collaborate with the Ministry of Health, Malaysia in developing a new dengue vaccine. One of the terms of her transfer states that she is to receive her monthly salary and relocation benefits through her bank account maintained in the Bank of Oslo, Norway. II. Vinnie Chu is a sales agent for LV Fashion House Bhd., which is based in Kuala Lumpur. Besides from her employment, she gains additional income through her online fashion business. In order to avoid any potential conflict of interest with her employer, Vinnie has registered her online business in Vietnam and operated it solely in the market there. The profit from the online business is later transferred into Vinnie's Malaysian bank account at the end of each financial year. iii. Severus and Septimus are the founding partners of Severus, Septimus & Associates, which is a Malaysian-based audit firm with presence in several other neighbouring countries. By invitation of a Vietnamese counterpart, Severus and Septimus have expanded their practice and opened a branch in Hanoi to serve its growing market. Severus, Septimus & Associates of Hanoi branch has been successfully established in 2016. It currently employs sixteen Vietnamese auditors and serves eighteen multinational corporations based in the country. In the financial year 2018, the branch has recorded an income of VND1.25 million. Required: Explain, with reasons, whether the income in each of the above situations is liable to income tax in Malaysia.
Expert Answer:
Answer rating: 100% (QA)
Dr Oriana Percivals income received through her bank account maintained in the Bank of Oslo Norway i... View the full answer
Related Book For
Business Law and the Legal Environment
ISBN: 978-1133587491
5th edition
Authors: Jeffrey F. Beatty, Susan S. Samuelson
Posted Date:
Students also viewed these accounting questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Mr. Amanat Ali is an information technology professional currently residing in Mumbai. He first came to Mumbai around 25 years back to join Terabyte Consultancy Limited (TCL), as an Assistant Manager...
-
Write a reflective paper about Disability Network West Michigan
-
A Colorado silver mine was owned by a company that went bankrupt. The three main creditors of the bankrupt firm formed the Raytheon Mine Company (RMI) as part of the plan of reorganization. RMI ran...
-
What are the two types of IT-related Practice Guides included in The IIAs International Professional Practices Framework (IPPF)?
-
Describe the differences between an express and an implied contract.
-
Finding Financial Information Refer to the financial statements of American Eagle given in Appendix B at the end of this book. Required: 1. What is the amount of accrued compensation and payroll...
-
(13%) Problem 4: A student standing on a cliff throws a stone from a vertical height of d = 8.0 m above the level ground with velocity vo = 18 m/s at an angle 0 = 32 below the horizontal, as shown....
-
Strong Shoes' comparative balance sheet is presented below. Strong reports under ASPE. Additional information: 1. Profit was $28,300. Dividends declared and paid were $26,400. 2. Equipment that cost...
-
3ft 300lb -4ft- 60 60 lb/ft 5.12 Determine the load 300 required to hold bar AB in a horizontal position on the smooth inclines shown in fig. 5-12. 6ft -14ft- 6ft Figure 5-12 400lb 2ft- 78742
-
True Or False Manufacturers have a duty to warn even if they neither knew nor should have known of the dangers of the sale of the product at the time it was sold.
-
True Or False Appropriation occurs when a defendant uses the plaintiffs name or picture for their own financial gain.
-
True Or False An industry as a whole may be determined to be negligent.
-
True Or False A plaintiff under assumption of risk in a strict liability case is barred from recovery.
-
How many people must reasonably understand that the defendants statement is referring to the plaintiff in order for defamation to be proved? a. Must the defendant refer to the plaintiff? b. Must the...
-
You have one type of nut that sells for $5.90lb and another type of nut that sells for $9.50lb. You would like to have 18lbs of a nut mixture that sells for $8.00lb. How much of each nut will you...
-
State whether each of the following will increase or decrease the power of a one-way between-subjects ANOVA. (a) The effect size increases. (b) Mean square error decreases. (c) Mean square between...
-
In the Bakalar case involving artwork stolen during World War II, do you agree with the courts decision? Should the heirs get a chance to recover the drawing that was stolen from their ancestor? Or...
-
Is it sensible to have two different sets of contract rules one for sales of goods and another for everything else? Would it be better to have a single set of rules for all contracts?
-
Consequential damages can be many times higher than direct damages. Consider the Farmer Ted scenario raised in multiple choice question 3, which is based on a real case. Is it fair if consequential...
-
How many oxygen atoms are bonded to the carbon of the carbonyl of an ester functional group? (a) none (b) one (c) two (d) three
-
Explain why caprylic acid, CH 3 (CH 2 ) 6 COOH, dissolves in a 5, aqueous solution of sodium hydroxide but caprylaldehyde, CH 3 (CH 2 ) 6 CHO, does not dissolve. (a) With two oxygens, the caprylic...
-
Which would you expect to be more viscousa polymer made of long molecular strands or a polymer made of short molecular stands? Why? (a) long strands, because they tend to tangle among themselves (b)...
Study smarter with the SolutionInn App