Question

5       The Inland Revenue Board is responsible for the following EXCEPT:

         A      Income tax

         B      Stamp duty

         C      Petroleum income tax act

         D      Sales tax

6       A “person” under the Income Tax Act 1967 EXCLUDES:

         I        Company

         II      A body of persons

         III     A limited liability partnership

         IV     A partnership.

         V      A corporation

         A      I and II

         B      III and IV

         C      IV

         D      None of the above

7   Generally, residence status is determined by the ________.

      A      income earned by the individual while in Malaysia

      B      nationality of the individual

      C      number of days present in Malaysia

      D      type of employment in Malaysia

8    Under Section 7(1)(a) of the Income Tax Act 1967, an individual is resident in Malaysia for the basis year for a particular year of assessment if he is in Malaysia for a period or periods amounting in total to ____ days or more.

      A      90

      B      100

      C      150

      D      182

Answer 1

5) The inland revenue board is responsible for collecting the direct taxes like income tax, capital gains tax, corporation tax, inheritance tax, petroleum revenue tax, stamp duty, national insurance contributions, house tax, land tax etc.

So the inland revenue board doesn't collect sales tax. Answer is D.

6) A person under income tax act, 1967 includes company Or a group of persons or individuals or local bodies or association of persons or hindu undivided family will comes under a person whether or not they established or incorporated the company for making profit or gains.

This includes person, company, group of persons, corporation, partnership, limited liability partnership. So the answer is D) None of the above.

7) Residential status is generally determined by the number of days the person is present in the country and residential status is considered for the before year as we calculate the income for before year.

Generally if you're present in the country for 183 days you are considered as a resident of that country. So the answer is C.

8) The 183 days rule means an individual is considered as a resident if in a particular year he is in the country for 182 days or more than 182 days.

Here, under section7(1)(a) of income tax act 1967, an individual is a resident in Malaysia for the basis year for a particular year of assessment if he is in Malaysia for a period of 182 days or more. So, answer is D.