Elements in Computing Tax Payable for Am Bank Group

Taxation

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Analysis of elements which are focused in computing tax payable............................................1
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Taxation can be defined as a liability of all the business entities which is required to be
paid by them to the governmental parties on the profit which is generated by them during an
accounting year. If a company is not able to pay right amount of it then it may result in strict
actions of legal authorities against the organisation (Abdul Aziz, 2016). It is very important for
all the enterprises to make sure that they pay appropriate tax each year so that possibility of such
situation could be reduced. The company which is selected for this report is Am Bank Group. It
is a public entity which is operating bus9iness under banking and finance industry and founded
in year 1975 by Hussain Najadi. Its headquarter is in Kuala Lumpur and it is operating its
business with 175 branches. Present report will cover different elements which are required to be
focused by enterprises while computing taxation.
MAIN BODY
Analysis of elements which are focused in computing tax payable
Overview of the organisation: AmBank Group is one of the largest banks of Malaysia
and operating business in finance and banking sector. Its Chairman is Tan Sri Azman Hashim
and CEO of it is Sulaiman Mohd Tahir. There are 175 different branches of it in Malaysia. It
provides ATM facilities to the customers with more than 760 automatic tailor machines in the
country. Business of it is operated by more than 10800 staff members and its parent company is
AMMB Holdings Berhad. It was listed on the main market of Bursa Malaysia in year 1988. It is
considered as sixth largest banking group of the country according to its assets. Total value of its
assets is more than RM 137 billion (Overview of Am Bank Group, 2020). Market capitalisation
of it is around RM 11 billion on 31 March 2018. There are various types of services which are
provided by it to the clients. These are retail, investment, wholesale, life insurance, share and
stock broking, life assurance, takaful, management services in assets. Main objective of the
organisation is to help businesses and individuals of Malaysia so that they can attain growth and
win together.
Taxation can be defined as the total amount which is paid by organisations to the legal
authorities on the profits which are generated for an accounting year (Bidin and et.al., 2016). In
other words it could be descried as the liability which is imposed by local authority upon citizens
and entity. Main purpose of it is to accumulate finance so that all the activities which are
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