logo

Computation of Income Tax - Doc

   

Added on  2021-01-02

12 Pages3234 Words72 Views
Taxation

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................31. Describing on how to determine basis period and year of assessment...................................32. Explaining elements in computing the chargeable income.....................................................43. Discussion on capital expenditure claimable by organisation................................................64. Computation of tax payable with the help of annual report of company................................7SUMMARY.....................................................................................................................................8REFERENCES..............................................................................................................................10

INTRODUCTIONThe nature of Carimin Petroleum Berhad is an investment holding company engaged inenergy sector. It was established in 1989 and evolved to become leading oil and gas companiesproviding technical and engineering support services in Malaysian industry. Organisationspecialises in engineering, scheduled/work pack development, procurement, recommissioningand commissioning activities. It also includes deploy marine vessels such as work barges,accommodation vessels, crew boats, anchor handling tug supply vessels which are regarded aspart of marine spread activities. Business has steadily grown in recent years from just amanpower service provider to dynamic and emerging contractor in integrated maintenance,rejuvenation and hook-up and commissioning (HUC) of both offshore and onshore in oil and gassupport industries. Till date, Carimin Petroleum Berhad had completed projects of more than RM1 billionand has diversified portfolio of reputed clients. These clients include PETRONAS Carigali,Murphy Oil, Repsol, Exxon Mobil and many other clients. The corporate structure of company isdrawn below-1

It can be ascertained that corporate structure provides clarity that firm has one segment ofcivil engineering which is Carimin Bina Sdn Bhd. On the other hand, there are two dormantsegments such as Carimin Resources Services Sdn Bhd and Fazu Resources (M) Sdn Bhd.While, rest of segments are of oil and gas support services. It can be ascertained that organisationstructure of Group is well-defined and it follows hierarchy organisational structure in whichthere are clear lines of accountability and delegation of authority. It is present for major tenders,project capital expenditure, acquisition and disposal of business and other significant transactions2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Financial Economics Assignment
|10
|2676
|385

FINANCIAL ANALYSIS AND MANAGEMENT A critical review of the financial performance of a listed plc Name
|27
|7522
|396