4th Quiz

There is no special regulations or rules on the taxation of banking business.

• True

• False

The main source of income for a bank is ______.

Countries with no double tax agreement with be given.....

• No relief

• Bilateral relief

• Unilateral relief

Branches of a resident bank will be entitled for exemption throughout operation period.

• True

• False

Malaysian ship means a sea-going ship registered under ____________

• Income Tax Act 1967

• Malaysian Shipping Association 1954

• Merchant Shipping Ordinance 1952

• Malaysian Shipping Regulation 1986

World income scope only applies to the following activities except _________.

• Transporting passengers via sea

• Transporting cargo via air

• Transporting passenger via land

• Transporting cargo via sea

A resident Malaysian ship may entitled for ______ exemption on statutory income.

• 50%

• 60%

• 70%

• 100%

Non-resident shipping operators are not taxable.

• True

• False