Tax Incentives

Tax Incentives

University

10 Qs

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Tax Incentives

Tax Incentives

Assessment

Quiz

Education, Business

University

Hard

Created by

Wan Wan

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10 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT listed as promoted activities qualify for tax incentives available for hotel and tourism industry?

Expansion or modernization of existing hotels

Establishment of roof top events space with a capacity to accommodate at least 1,000 guests

Establishment of recreational camps

Establishment of convention centers with a capacity to accommodate at least 3,000 participants

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

i and iii

i, ii and iii

i, iii and iv

All of the above

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Sana Sini Sdn Bhd, tourism company involved in promoted activities in Tanjung Dawai, Kedah. If Sana Sini were granted the Investment Tax Allowance (ITA), it will get

An allowance of 60% on the qualifying capital expenditure (QCE) incurred within five (5) years from the date on which the first qualifying capital expenditure is incurred and this allowance can be offset against 70% of SI in the YA

An allowance of 70% on the qualifying capital expenditure (QCE) incurred within five (5) years from the date on which the first qualifying capital expenditure is incurred and this allowance can be offset against 60% of SI in the YA

An allowance of 100% on the qualifying capital expenditure (QCE) incurred within five (5) years from the date on which the first qualifying capital expenditure is incurred and this allowance can be offset against 100% of SI in the YA

An allowance of 100% on the qualifying capital expenditure (QCE) incurred within ten (10) years from the date on which the first qualifying capital expenditure is incurred and this allowance can be offset against 100% of SI in the YA

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Home Holiday Sdn Bhd, which makes up its accounts to 31 December annually, has established a new tourist project named Duduk Rumah in Penarik, Terengganu. The company was granted pioneer status by MITI on its production day commencing 1 February 2014. For the year of assessment 2019, Home Holiday plans to apply for tax incentives offered by MIDA.


Which of the following incentives is eligible for Home Holiday to apply?

Pioneer Status

Investment Tax Allowance

Enhanced Incentives for Undertaking New Investment in Hotel

None of these incentives

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

“Start-up” financing means

Financing provided by an individual or a company to a VC for the purposes of research, assessment and development of an initial concept or prototype, where the VC’s organisational structure has not been formalised.

Financing provided by an individual or a company to a VC for product development and initial marketing, where the VC is in the process of formalising its organisational structure, or if its organisational structure has been formalised, the VC has not sold its products commercially.

Capital expenditure or working capital to initiate commercialization of a technology or product.

Additional capital expenditure or additional working capital to increase production capacity, or for marketing or product development.

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

i only

i and ii

All of the above

None of the above

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Where a VCC incurs a loss from the disposal of shares in a VC in the basis period for any year of assessment within the exempt period, such loss

shall be carried forward to the post-exempt period.

cannot be carried forward to the post-exempt period.

will be disregarded.

will be debited into exempt income account (EIA).

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