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Discuss the withholding tax requirement

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Problem - Multico Son. Bhd. (tax resident) is presently developing a theme park in Nilai, Negeri Sembilan. During the year ended 30.6.3019, the company made a payment of RM350,000 to Mr Wangdu a resident of New Zealand, being interest on the RM10 Million loan at the rate of 3.5% per annum. The loan is used as working capital of the company. Discuss the withholding tax requirement.

Reference no: EM132959969

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