The Inland Revenue Board of Malaysia issued a media release on 16 November 2021 to launch the "Special Program for Remittance of Foreign Income" for Malaysian tax residents with foreign income kept overseas. The Finance Act 2021 was gazetted on 31 December 2021 to enact the changes to the Income Tax Act  1967.n

1. Is it necessary for Malaysia to tighten the Foreign-sourced income exemption? If yes, why? If no, why? 

2. What is double taxation agreement? Please explain by applying the scope of OECD Forum

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of the process and conversion costs are incurred uniformly throughout the process. Beginning work in process is 30 percent complete- ending work in process is 40 percent complete. The following is an excerpt from the production report for Fincher Farms. Assume the company uses Weighted-Average Method. Required: Find the missing amounts. FINCHER FARMS Process Costing Production Report (Weighted-Average Method) For the month ended January 31, 2016 P Physical Units Units to be accounted for Beginning work in process Started into production Total units Units accounted for Completed and transferred Ending work in process Total units 40,000 Physical Units FE 260,000 Equivalent Units Direct Materials 260,000 80,000 340,000 Conversion Cost of the process and conversion costs are incurred uniformly throughout the process. Beginning work in process is 30 percent complete- ending work in process is 40 percent complete. The following is an excerpt from the production report for Fincher Farms. Assume the company uses Weighted-Average Method. Required: Find the missing amounts. FINCHER FARMS Process Costing Production Report (Weighted-Average Method) For the month ended January 31, 2016 P Physical Units Units to be accounted for Beginning work in process Started into production Total units Units accounted for Completed and transferred Ending work in process Total units 40,000 Physical Units FE 260,000 Equivalent Units Direct Materials 260,000 80,000 340,000 Conversion Cost

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Ans 2 Double taxation means the same income getting tax twice in hands of some assesses There are 2 rules of taxation 1Residence rule 2Source rule Dou... View the full answer