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Please solve all the questions 1. Discuss the withholding tax treatment on the RM350 million payment received by Turus Ltd from Fast Flow Sdn Bhd.

Please solve all the questions 1. Discuss the withholding tax treatment on the RM350 million payment received by Turus Ltd from Fast Flow Sdn Bhd.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Please solve all the questions

1. Discuss the withholding tax treatment on the RM350 million payment received by Turus Ltd from Fast Flow Sdn Bhd.

2 .Determine the withholding tax amount and due date for payment of withholding tax to the Inland Revenue Board in respect of the payment made to Tiwanis Ltd

Fast Flow Sdn Bhd is a Malaysian resident company involves in power supplies in Kedah. The company closes its account on 31 December every year. The company made the following payments in connection with the construction of several power stations in the northern areas of Malaysia: Date Details RM350 million to Turus Ltd, a Singaporean contractor, for the construction of a power station in Kedah. The following payments | 3 January 2019 were made: • RM90 million for the services performed in Malaysia. • RM260 million for the supply of materials and equipment. RM15 million to Tiwanis Ltd, an Indonesian company, for the installation of the equipment in Malaysia. 25 February 2019
Transcribed Image Text:Fast Flow Sdn Bhd is a Malaysian resident company involves in power supplies in Kedah. The company closes its account on 31 December every year. The company made the following payments in connection with the construction of several power stations in the northern areas of Malaysia: Date Details RM350 million to Turus Ltd, a Singaporean contractor, for the construction of a power station in Kedah. The following payments | 3 January 2019 were made: • RM90 million for the services performed in Malaysia. • RM260 million for the supply of materials and equipment. RM15 million to Tiwanis Ltd, an Indonesian company, for the installation of the equipment in Malaysia. 25 February 2019
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