Lowyat.NET: Latest topics by r4vemaster

Personal income Tax Issue

r4vemaster — Fri, 12 Feb 2021 08:10:46 +0800

Hi guys,

Say the company give advance to director 60k

The company ofcourse is taxable on the deemed interest income.

But is it taxable for the dir?

CANNOT PAY SUPPLIER - HOW TO TREAT?

r4vemaster — Mon, 25 Jan 2021 13:42:49 +0800

Hi guys its me the accounting persoalan guy

The situation is:

Company A entered into agreement to get supplied of service from Company B say 3 years.

During the period service from Co. B is not delivered 100% (i.e. promise to give 10mbps speed but when test only 5mbps over the year) to Co. A

Co. A cannot pay Co. B.

So treatment in Co. B's book is Provision of doubtful debt.

Treatment in Co. A's book how?

is letter from Co. B stating not need to pay + credit note suffice? So the treatment will be taken up in other income. Please advice lol

Qualified Audit Report

r4vemaster — Fri, 04 Sep 2020 10:27:59 +0800

Hi guys,

What does qualified audit opinion means and how it will affect the company? My friend's company want to sell his company but the law firm need the latest audit report.

So during the audit, the auditor said that if we need the report fast they need to qualified the report. Will it affect the process of selling the company to potential buyers? (P/S:his company is making losses all year so he decided to sell it)

Thank you!

About Program Subsidi Upah

r4vemaster — Wed, 29 Jul 2020 15:10:00 +0800

Hi guys,

say if this company applied for Program Subsidi Upah (PSU) for their staff, but the company did not pay full salary to the staff. Can report tu JTK because in PSU T&C said must full pay salary if apply for this programme?

SOLE PROPRIETOR ENQUIRY

r4vemaster — Wed, 24 Jun 2020 14:50:26 +0800

Hi guys,

I come again with my friend's questions

For sole proprietor firm, the boss pay himself a salary, so for submission of form E LHDN, do we need to include the owner of the firm to submit? or it is considered drawings? Thanks

Auditing in Hong Kong

r4vemaster — Tue, 10 Dec 2019 15:17:18 +0800

Hi guys,

My friend setup a company in Hong Kong last 2 years. During the last 2 years he didn't send docs for audit. The company is dormant throughout the year.

May I know if there are any penalties or any guideline/due dates for the audit report that need to be completed? Thanks