Tutorial_13_-_Shipping.doc - UKAT3043 Taxation lll (2016)...

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UKAT3043Taxation lll (2016)UNIVERSITI TUNKU ABDUL RAHMANFACULTY OF ACCOUNTANCY AND MANAGEMENTACADEMIC YEAR 2020BACHELOR OF ACCOUNTING (HONS)YEAR 3/4TUTORIAL 14 : ShippingQuestion 1Pacific Crown Line Limited, a shipping company resident in Austria, derived gross freightincome of RM760,000 from Malaysia for the endedDecember 31, 2019.Under the double taxation agreement between Austria and Malaysia, income derived by anenterprise of Austria from the operation of ships in international traffic may be taxed inMalaysia but the tax chargeable in Malaysia on that income shall be reduced by an amountequal to 50% of such tax.Required:Compute the Malaysian tax payable by Pacific Crown Line Limited for YA 2019Question 2.Shipline Sdn Bhd is a Malaysian resident shipping company which has three ships. Two ofthe sea going ships, Vessel A and B, are registered under the Malaysian Shipping Ordinace,1952 for transporting of cargo. The third vessel, Vessel C, is registered in Hong Kong.

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Term
Summer
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N/A
Tags
Taxation in the United States

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