Corporate Taxation

Description

mindmap for corparate taxation
suhada zahari
Mind Map by suhada zahari, updated more than 1 year ago
suhada zahari
Created by suhada zahari about 6 years ago
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Resource summary

Corporate Taxation
  1. Compensation For Breach or Cancellation of Contract
    1. COMPENSATION PAID in respect of supply contract to be capital receipt
      1. Revenue Receipt
        1. Capital Receipt
      2. compensation for Damages
        1. 1) Compensation for loss of Income is the amount of damages that replace the loss of trading profit or to fill a hole of the trading profit.
          1. 2) Compensation for Loss of Asset consist of three element which is temporary loss, permanent loss and regular permanent loss
            1. 3) Personal Damages is personal injury due to negligence
        2. Sales of 'KNOW-HOW'
          1. Secret processes, design standards, drawing or pattern
            1. Capital Receipt
              1. Revenue Receipt
            2. Subsidy or Grant
              1. Trading Receipt is Grant is to cover revenue expenditure or substitute loss of profit
                1. Capital Receipt is grant not to substitute revenue loss for capital project
                  1. Case : Dewan Perniagaan Bumiputera Sabah v Ketua Pengarah Hasil Dalam Negeri
                  2. Case : Ostime v Pontypridd
                2. Foreign Exchange Transaction
                  1. Trading Receipt if referable to the circulating capital arised in the ordinary course
                    1. Case : Imperial Tobacco Co. Ltd v Ltd
                    2. Capital receipt is acquisition or disposal of capital asset
                      1. Case : Davies v Shell Co of China Ltd
                    3. Unclaimed Deposit or Balances
                      1. Capital Receipt is paid deposits when ordering gorments and unclaimed deposit are taxable
                        1. Capotal Receipt : Morley vTottersall
                      2. Insurance Receipt (the legal Principle
                        1. Capital Receipt is a permanent destruction of capital asset for example loss of lorry
                          1. Income Receipt is to fill a hole of the profit such as loss of service of employee and delay n repair an asset
                          2. Release of Debt
                            1. It is also known as forgiving or waive of debts
                              1. It is refer to the Section 30(4)
                              2. Compensation for withdrawal of partnership
                                1. It is consider as capital receipt because it is related to :
                                  1. A disposal of a sources of income
                                    1. Surrendering af all rights for a consideration
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