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Sutera Sdn Bhd, a manufacturing company located in Sabah, has been in operation
since March 2013. The company manufactures a promoted product and had been
granted investment tax allowance incentives under the Promotion of Investment Act 1986
effective from 1 January 2014.
The forecasted capital expenditure, adjusted income and capital allowances for the three
years are as follows:
Required:
(a) State the tax relief period for the investment tax allowance incentive available to
Sutera Sdn Bhd.
(2 marks)
(b) For the year of assessment 2014, 2015 and 2016, compute the following:
(c) Sutera Sdn Bhd ordered a special plant from Australia to be used in a production.
The particulars are as follows:
RM
Cost (FOB) 40,000
Cost of packaging - for export 4,000
Cost of freight - to port of import 1,000
Cost of insurance - to port of import 1,000
Cost of transportation - from port to site 2,000
Note:
The special plant is subject to 20% import duty and 6% Government Service tax.
Required:
a) The tax relief period starts from 1 January 2014 31 December 2018 . (2 x
1 = 2 marks)
b)
c)
i) The Customs value of the special plant:
RM
Product price 40,000/
Packaging cost 4,000/
Freight cost 1,000/
Insurance 1,000/
(4/ x 1 = 4 marks)