Atas Sdn. Bhd.a company manufacturing tiles in Malaysia sold a batch to a customer in Finland for $15,000. The cost of manufacturing was $7,000. Thus the.

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Presentation transcript:

Atas Sdn. Bhd.a company manufacturing tiles in Malaysia sold a batch to a customer in Finland for $15,000. The cost of manufacturing was $7,000. Thus the profit was $8000. Where should the profit be taxed? What are the issues you need to consider to support your argument. Cost of production $7000 Paid $15,000 Sold tiles Profit on

2 Atas Sdn Bhd ( Branch ) Finland Malaysia Atas Sdn. Bhd Customer Cost of production $7,000 Sale Price $8,000 Sale Price $15,000 How much is attributed to Malaysia for taxation. What are the issues you need to consider?

Juliana Mat Jusoh

The following considerations may be relevant when deciding whether a company is trading in or with Malaysia: The place where the contracts of sales are made. The place where the operations from which the profits arose are carried out. The place where payments are made. The place where the title to the goods passes from the seller to the buyer.

Various Countries Hong Kong Derived in HK – Taxable Not from HK – not taxable

Incorporated in Malaysia SINGAPORE MALAYSIA Granted by Spore authorities operate the buses Profit – Net after deducting operation cost

Cost of production $7000 Paid $15,000 Sold tiles Profit on Atas Sdn Bhd ( Branch ) Atas Sdn Bhd ( Branch ) Customer Finland Malaysia Cost of production $7,000 Sale Price $8,000 Sale Price $15,000 SITUATION 1 SITUATION 2

5. (1) A contract of sale is made by an offer to buy or sell goods for a price and the acceptance of such offer.

Cost of production $7000 Paid $15,000 Sold tiles Profit on Atas Sdn Bhd ( Branch ) Atas Sdn Bhd ( Branch ) Customer Finland Malaysia Cost of production $7,000 Sale Price $8,000 Sale Price $15,000 SITUATION 1 SITUATION 2 There are direct contract between Atas HQ & Customer in Finland – profit RM8K There are 2 contract involved in this situation 1 – Atas HQ & Atas Branch – profit RM1K 2 – Atas Branch & Customer – Profit RM7K

Incorporated in Malaysia SINGAPORE MALAYSIA Granted by Spore authorities operate the buses Profit – Net after deducting operation cost – No specific agreed price

AUSTRALIA LONDON Co. was incorporated in UK - HQ London Co. Branch Sold in Australia Shipping the goods Sold the goods

Cost of production $7000 Paid $15,000 Sold tiles Profit on SITUATION 1

Atas Sdn Bhd ( Branch ) Atas Sdn Bhd ( Branch ) Customer Finland Malaysia Cost of production $7,000 Sale Price $8,000 Sale Price $15,000 SITUATION 2

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