Year of Assessment

Poopee Sdn Bhd is a company producing wood products and has a Malaysian brand name ‘Solid’ which has been duly registered with the relevant authorities. Poopee ’s issued share capital is RM2,400,000 and all of its shares are owned by Malaysian residents.
The following information relates to its year ended 31 December 2017:

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  •  The export sale was made from Poopee ’s factory in Shah Alam, Malaysia to a distributor in Brunei. The distributor had not settled the amount of RM800,000 as at 31 December 2015. The total exports for the current year are expected to be not more than 5% of total sales.
  •  The staff remuneration comprises salaries of RM2,000,000 and the related employees’ provident fund (EPF) contributions of RM400,000.
  •  The capital allowances claimable for the year are RM1,230,000.
  •  The chargable income for year of assessment 2016 is RM13,930.
    (a) Prepare the tax computation of Poopee Sdn Bhd for the year of assessment 2017.  [30 marks]
    (b) Test of Skills at Work: Transfer the information into Sections A to C (Pages 1 to 3) of the Tax Returns Form. Answer in Bahasa Malaysia.  [16 marks]

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