Reference no: EM132736121
Question - Texco Sdn Bhd is engaged in the manufacture and sale of rubber products. Its income statement for year ended 31 December 2018 is as follows:
Note RM'000 RM'000
Turnover 32,900
Less: Expenses
Salaries and wages 3,300
Office rental 1 3,500
Repair and maintenance 2 720
Depreciation 1,900
Bad and doubtful debt 3 850 (10,270)
22,630
Other income 4 11
Profit before tax 22,641
Notes:
1. Office rental includes a rent deposit RM18,000 paid to a landlord in respect of a service centre in Penang.
2. This includes repair of a warehouse which the company do renovation of RM66,000 on extending the porch for a manager carpark.
3. All items related to trade debt except for an amount of RM20,000 in respect of a personal loan to an ex-employee.
4. Other income comprise: RM
Dividend (net) 7,000
Rental income from warehouse 4,000
11,000
5. Capital allowance for the year of assessment is RM1,700,000.
Required - Compute the tax payable by Texco Sdn Bhd for YA2018.
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