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BUSINESS EXPENSE - Coggle Diagram
BUSINESS EXPENSE
Deductible if
R&D
S34(7)
S34A
S34B
S34D
treasury shares
S33(4)
Deductible when int is due to be paid
Not prohibited by S39
S33(2)
Int restriction
S35(5)
Stock
S33(1)(a)
Int on borrowing
Exemption orders
S33(1)
Expense must be wholly and exclusively incurred in the production of GI
PIECRIB
Fixed asset vs
C
irculating asset
One off payment vs
R
ecurring payment
E
nduring benefit vs short term benefit
I
n production line vs after production line
I
mprovement vs maintenance expenses
B
usiness process vs capital structure
Replacing entire asset vs replacing
p
art of asset
Provision Accounts
General provision for doubtful debts
provided based on % of TR
estimate not deductible
Specific provision for doubtful debts
deductible if
known amount
reasonable actions taken
known trade
Specific buss expenses
based on Act + Statutory order
Secretarial fee deductible up to RM5,000/YA
Tax fee deductible up to RM10,000/YA