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Essential Excel Skills for Accountants
Questions and Answers from training
- Written by Stanley K Wong
- Category: Questions and Answers from training
Thank you for your participation for the training held on June 6, 2016.
- Please take note that you can only raise disbursement if you met all conditions specified with DG Decision 5/2015 Item6 v2
The following is the question and answer summary for the training on June 6, 2016 (PJ).
- Local tax invoice in foreign currencies - Some accounting software has specific feature to record taxable amount and accounting value. Alternatively, you may need to use GST clearing accounts to record these transactions
- Software and License - Software is a service
- Billing to overseas entity for software - It shall qualify as reimbursement at zero rated as it is directly beneficial to a person outside Malaysia when the recovery service is performed
- Free of charge sample - If you send the sample out of Malaysia and subsequent return to Malaysia, it may subject to importation. You may apply for the relief with RMCD
- Ad-hoc services - It shall combine with primary MSIC
- Management Fee - If it is treated as single business source, then it shall use the primary MSIC
- Imported Services - Tax code to be used is Input Tax (TX) and Output Tax (DS)
- Registration for business which holds commercial properties - it follows the ordinary rule of registration based on taxable threshold. A business is different from individual as its initial intention is to carry a business.
- Incidental Exempt Financial Supplies - ES43 - Kindly assign for interest income and net gain for realized gain/loss in exchange. It shall not include any accruals and revaluation
- Selling books by organization which is not publisher - Selling books will qualify as zero rated supply despite you are not the publisher.
Please download the PDF document to read the Q&A in details.
Mr. Stanley Wong Kah Leong
Suite 11 Block E111 Phileo Damansara 1
No 9 Jalan 16/11 Off Jalan Damansara
46350 Petaling Jaya, Selangor, Malaysia, MYS
Tel: +6012-9819390; +6012-6981938
Email: admin at swpc.com.my