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Download Issue 62 (297 KB)
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Issue 62 : September 2007
With the removal of specific guidance for re-investment or other allowances in excess of its normal capital allowances, a company has to assess the tax incentive given and an apporpriate accounting policy chosen. Deferred tax asset on certain types of tax incentives may now be recognised.
Issue 62 looks at FRS 112 "Income Taxes", what was amended/revised and the accounting treatment of tax incentives given on the purchase of qualifying assets.
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PwC Alert is a digest of topical financial and business information for clients and business associates of PwC Malaysia. Whilst every care has been taken in compiling this newsletter, we make no representations or warranty (expressed or implied) about the accuracy, suitability, reliability or completeness of the information for any purpose. PwC Associates Sdn Bhd, its employees and agents accept no liability, and disclaim all responsibility, for the consequences of anyone acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. Recipients should not act upon it without seeking specific professional advice tailored to your circumstances, requirements or needs.
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