Assessment 1 - Overview of MYS tax system, ITA 1967 scope of cha

A tax is ( ) if the average percentage rate of tax collected increases as income increases

(a)  

A tax is ( ) if the rate of tax remains constant regardless of the income generated 

(a)  

Is the following statement true/false?

A tax is regressive if the average percentage rate of tax collected decreases as income decreases

• True

• False

Which of the following statement is correct in determining the tax residence status of a company?

• A company is resident in Malaysia only if the management and control of all of its businesses are exercised in Malaysia

• A company is resident in Malaysia only if all of its shareholders' meetings are conducted in Malaysia

• A company is resident in Malaysia only if it is incorporated in Malaysia

• Where a company does not carry on any business, it is treated as resident in Malaysia if the management and control of its affairs are exercised in Malaysia

Pace Sdn Bhd makes up its accounts to 30 September each year.

What is Pace Sdn Bhd's basis period and basis year for the year of assessment 2022?

• Basis period:

  1 October 2021 to 30 September 2022

  Basis year:

  1 October 2021 to 30 September 2022

• Basis period:

  1 October 2021 to 30 September 2022

  Basis year:

  1 January 2022 to 31 December 2022

• Basis period:

  1 January 2022 to 31 December 2022

  Basis year:

  1 October 2021 to 30 September 2022

• Basis period:

  1 October 2020 to 30 September 2021

  Basis year:

  1 January 2022 to 31 December 2022

Is the following statement true/false?

Income tax is an example of an indirect tax.

• True

• False