Jan 3 2014, 10:09 PM
QUOTE(mr.noone @ Apr 24 2013, 05:45 PM)
any place to get hte guideline for the balance sheet?
Example if entertainment 1000, 50% is 500, the other 500 in the non "something" expense?
Because need to balance the account per usage?
Example if entertainment 1000, 50% is 500, the other 500 in the non "something" expense?
Because need to balance the account per usage?
QUOTE(pisces88 @ Dec 28 2013, 12:55 AM)
Same question.
If the drinks and dinner bill is RM1000, just direct file it as rm500?
Another thing, if sponsor a gift to a company's annual dinner, can file under entertainment?
Accounting Principle/Base and Tax Principle/Base should be book separately. Normally those tax not allowable or 50% allowable will be add back when doing tax computation.If the drinks and dinner bill is RM1000, just direct file it as rm500?
Another thing, if sponsor a gift to a company's annual dinner, can file under entertainment?
So you can still book RM1000 as entertainment expenses. But during tax computation, RM500 will be add back.
QUOTE(soulmad @ Jan 3 2014, 07:27 PM)
hi anyone care to advice,
if u purchase equipment
to operate the business
does the equipment can use in expenses category to offset the revenue?
any best advice how you guys reduce the tax?
For equipment, in P/L will treat as depreciation. But for tax purpose, will be Capital Allowance which had fixed by tax law.if u purchase equipment
to operate the business
does the equipment can use in expenses category to offset the revenue?
any best advice how you guys reduce the tax?
The best tax saving is to fully utilise the tax benefit and avoid those non allowable tax deduction. Please refer to Tax Consultant for more detail. Every business are unique and treatment are different.
The tax law is as thick as dictionary.
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