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.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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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