Loan to Director deemed to derive Interest Income!

WANAKA

shella 发表于 27-12-2013 01:45 PM
有这条rule？

运用DEEM INCOME 。。。。。。

50912cmea

WANAKA 发表于 20-12-2013 09:24 AM
＝说不可以有DIRECTOR ACCOUNT 在DEBIT BALANCE。。。。

DIRECTOR 给注入钱,但假如拿超过注入的 AMOUN ...

不可以有 DIRECTOR ACCOUNT 在 DEBIT BALANCE 除了以下的。。。

Companies Act 1965

Loans to directors

133. (1) A company (other than an exempt private company) shall not make a loan to a director of the company or of a company which by virtue of section 6 is deemed to be related to that company, or enter into any guarantee or provide any security in connection with a loan made to such a director by any other person but nothing in this section shall apply -

(a) subject to subsection (2), to anything done to provide such a director with funds to meet expenditure incurred or to be incurred by him for the purposes of the company or for the purpose of enabling him properly to perform his duties as an officer of the company;

(b) to anything done to provide such a director who is engaged in the full-time employment of the company or its holding company, as the case may be, with funds to meet expenditure incurred or to be incurred by him in purchasing or otherwise acquiring a home; or

(c) to any loan made to such a director who is engaged in the full-time employment of the company or its holding company, as the case may be, where the company has at a general meeting approved of a scheme for the making of loans to employees of the company and the loan is in accordance with that scheme.

很多时候，loan to directors 被视为 employment benefits

WANAKA

50912cmea 发表于 27-12-2013 03:11 PM
不可以有 DIRECTOR ACCOUNT 在 DEBIT BALANCE 除了以下的。。。

Companies Act 1965

那可以改为LOAN TO SHAREHOLDER 应该可以过关？

50912cmea

WANAKA 发表于 27-12-2013 03:49 PM
那可以改为LOAN TO SHAREHOLDER 应该可以过关？

如果 shareholder is connected with director, 也是不可以（不过有 exceptions 和 82 楼的 section 133 的 exceptions 差不多）

Prohibition of loans to persons connected with directors

133A. (1) Subject to the provisions of this section, a company (other than an exempt private company) shall not -

(a) make a loan to any person connected with a director of the company or of its holding company; or

(b) enter into any guarantee or provide any security in connection with a loan made to such person by any other person.


如果 shareholder is also director, 应该 subject to 82 楼的 section 133 吧


如果 shareholder is not director or not connected with director, 应该就没问题吧，不过 directors approve the loan 时，得注意。。。providing loan to shareholder 相同于 distributing dividend to shareholder...

Dividends payable from profits only

365. (1) No dividend shall be payable to the shareholders of any company except out of profits or pursuant to section 60.

(2) Every director or manager of a company who wilfully pays or permits to be paid any dividend out of what he knows is not profits except pursuant to section 60 -

(a) shall without prejudice to any other liability be guilty of an offence against this Act; and

(b) shall also be liable to the creditors of the company for the amount of the debts due by the company to them respectively to the extent by which the dividends so paid have exceeded the profits and that amount may be recovered by the creditors or the liquidator suing on behalf of the creditors

Directors 得 safeguard 那些 creditors 的权益。。。

WANAKA

50912cmea 发表于 27-12-2013 04:32 PM
如果 shareholder is connected with director, 也是不可以（不过有 exceptions 和 82 楼的 section 133  ...

那假如这法令运用应该有多少公司将被抽税？

DORMANT 公司应该不可能有DEEM INCOME GUA？

50912cmea

50912cmea 发表于 26-12-2013 03:42 PM
请看 Interest-Free Loan to Directors of Companies
Inland Revenue Board did in the case of YEHHSB  ...

From PWC 的 2013 2014 Malaysian Tax and Business booklet



------------------------------------------------------------

From Interest-Free Loan to Directors of Companies

In any case, with the introduction of the Income Tax (Transfer Pricing) Rules 2012, Rule 12 (1) of the said Rules require that “Any person in a controlled transaction who provides or receives financial assistance, directly or indirectly, to or from another person with or without consideration shall determine the arm’s length interest rate for such assistance.” Therefore, the company that gives financial assistance (ie. interest-free loan) to the directors would have to account for a deemed interest income (even though none has been actually charged or received by the company) which would be taxed on the company.

如果是这样的话，那应该是所有的 loans/advances (financial assistance) to any company or person at below market interest rates should be deemed to derive interest income calculated at the prevailing market interest rates, 包括那些 interest-free loans to related companies, related parties and employees... 统统杀完

------------------------------------------------------------

其实，Accounting Standard MFRS139 已经要求那些 loans and receivables with interest rates at below market rates 的 to be adjusted for interest income calculated at its prevailing market rates 所以 account 里，如果 MFRS139 is followed, 应该会有那些 interest income 料。。。

WANAKA

50912cmea 发表于 27-12-2013 04:47 PM
From PWC 的 2013 2014 Malaysian Tax and Business booklet

这ACT 包括SOLE PRO 与PARTNERSHIP？

50912cmea

WANAKA 发表于 27-12-2013 04:39 PM
那假如这法令运用应该有多少公司将被抽税？

DORMANT 公司应该不可能有DEEM INCOME GUA？

那假如这法令运用应该有多少公司将被抽税？不如您打 问 IRB 吧

DORMANT 公司应该不可能有DEEM INCOME GUA？The Director General of Inland Revenue 有它的 POWER and exercise it to deem 那就有 deemed income 料

WANAKA

50912cmea 发表于 27-12-2013 04:56 PM
那假如这法令运用应该有多少公司将被抽税？不如您打  问 IRB 吧

DORMANT 公司应该不可能有 ...

假如DIRECTOR A／C DEBIT BALANCE 平均RM100K 将抽税多少？

50912cmea

WANAKA 发表于 27-12-2013 04:56 PM
这ACT 包括SOLE PRO 与PARTNERSHIP？

应该不包括，sole proprietorship and partnership 是 for personal income tax 的

WANAKA

50912cmea 发表于 27-12-2013 05:19 PM
应该不包括，sole proprietorship and partnership 是 for personal income tax 的

因为他们也是有DRAWING A／C。。。。。

50912cmea

WANAKA 发表于 27-12-2013 05:00 PM
假如DIRECTOR A／C DEBIT BALANCE 平均RM100K 将抽税多少？

未决定，最少应该有 BLR rate 吧。。。or highest to the company's own borrowing rate 吧。。。

请看 PWC The 2014 Budget 第三面

WANAKA

50912cmea 发表于 27-12-2013 05:29 PM
未决定，最少应该有 BLR rate 吧。。。or highest to the company's own borrowing rate 吧。。。
...

这观念是跟随美国？

50912cmea

WANAKA 发表于 27-12-2013 05:22 PM
因为他们也是有DRAWING A／C。。。。。

那个 interest income from bank 是 tax free in the owner or partner or 偶们的 personal tax 里

50912cmea

WANAKA 发表于 27-12-2013 05:36 PM
这观念是跟随美国？

应该是 IRB 要开更多税源

WANAKA

50912cmea 发表于 27-12-2013 05:43 PM
应该是 IRB 要开更多税源

为什么他们不直接在ISSUED SHARE PAID CAPITAL 抽税？
将不是全部中LOH？

WANAKA

50912cmea 发表于 27-12-2013 05:37 PM
那个 interest income from bank 是 tax free in the owner or partner or 偶们的 personal tax 里

GST 已经增加商业成本，DIRECTOR A／C 也中，大多数生意将难做。

50912cmea

WANAKA 发表于 27-12-2013 05:45 PM
为什么他们不直接在ISSUED SHARE PAID CAPITAL 抽税？
将不是全部中LOH？

Issued share capital 是 capital basis（树）不是 income（果实），不会中税的。。。

这个是 potential income if it is done at arm's length transaction, 所以中 deemed as income

50912cmea

WANAKA 发表于 27-12-2013 05:50 PM
GST 已经增加商业成本，DIRECTOR A／C 也中，大多数生意将难做。

u tak help me 的后果

WANAKA

50912cmea 发表于 27-12-2013 05:55 PM
Issued share capital 是 capital basis（树）不是 income（果实），不会中税的。。。

这个是 pot ...

也可以说是因为资金注射SUBJECT FOR CUSTOM TAX。

SALES 中GST
PROFIT 中公司税
DEBIT BALANCE DIRECTOR A／C 中DEEM INCOME TAX


还有什么没中又数量巨大的？