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Determine the tax deductibility of the money loss

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Reference no: EM132763057

Question: Bank W encountered theft where its bank officer stole money from customers' accounts. When detected it was found that RM20,000 had been embezzled. The bank subsequently terminated the services of the bank officer.

Required: Determine the tax deductibility of the money loss caused by theft.

Reference no: EM132763057

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