BUSINESS NAME
COMPUTATION OF STATUORY BUSINESS INCOME FOR YA 2021
RM RM
Net Profit/ Net Loss XX/(XX)
Add: Revenue not recorded
Sales Omitted XX
Drawings (Market Value/ Selling Price) XX
Bad debt recovered (if the bad debt is previously allowed and not XX XX
yet added to SOPL)
Less: Non-Business Income [4(b) – 4(d)]
Discount received from supplier (Trade) xx
Commission from supplier (Trade) xx
Insurance compensation on damaged stock (Trade) xx
Compensation received from supplier (Trade) xx
Interest charged on debtors for late payment 4(c) xx
Dividend income (Investment income) 4(c) xx
Interest income 4(c) xx
Royalty income 4(d) xx
Rental income 4(d) xx
Gain on disposal of non – current assets (Capital Receipt) xx (xx)
Add: Non-Allowable Expenses
Remuneration to owner (All the expenses related to owner is NAE) xx
Salary and bonus for employees Nil
EPF for employees (Max allowable expenses is = 19% x TR) xx
Lease Rental – Passenger vehicle, deduction restricted to XX
- Cost < RM150,00 = Max is RM100,000 (if the cost od the car
less than 100,000, use the cost of the car not RM100,000)
- Cost > RM150,000 = Max is RM50,000
- Secondhand MV = Restricted to RM50,000
Bad Debt NIL
Specific provision NIL
General provision xx
Bad debt written off NIL
Trade debt taken over / non – trade taken over xx
Rent Expenses – for Business purposed NIL
Interest Expenses – For Business purposed NIL
Loss resulting from employees defaulting on a loan/advance to xx
employee
Damages xx
Cost of tac appeal xx
Violation of laws – fine and penalties xx
Defaecation by directors xx
Defaecation by Employees (Trading Loss) NIL
Entertainment expenses
To entertain supplier and bankers 50%
allowable
To entertain employees NIL
Entertainment allowance to employees 50%
allowable
, Entertainment to client/customers 50%
allowable
Reimbursed entertainment exp – to entertain client 50%
allowable
Reimbursed entertainment exp – Related to sales NIL
Promotional gift at foreign trade fair – promoting export NIL
Promotional samples of product of the business NIL
Promotional gift consisting of company logo of the business NIL
Promotional gift without logo of the business 50%
allowable
Cultural or sporting events to promote the business – open to public NIL
Cultural or sporting events to promote the business – Not open to 50%
public allowable
Entertainment relates wholly to sales (Refer PR4/2015) NIL
Leave passage for employees – Yearly event, within Malaysia NIL
Leave passage – Overseas xx
Capital expenditure (initial expenses, acquisition of assets, xx
improvement to assets, acquisition repair, painting, replacement on
whole or major part of then asset, renovation)
Revenue Expenditure (repair and maintenance, replacement on NIL
minor parts of the asset, renewal, repainting, rewiring, road tax,
insurance)
Life insurance on business owner, directors of a controlled co, xx
partners in partnership or sole trader
Depreciation xx
Domestic or private expenses (not for business purpose) xx
Expenditure in respect of translation/publication of books – NIL
approved
Provision of Library Facilities
- Sec 34(6)(g): Deductible, restricted to RM100,000 (cash & NIL
in-kind)
- Sec 44(8): In – kind/cash, Non Allowable Expenses xx
Social responsibility payment – approved by Minister NIL
Musical and Cultural group – approved by Minister NIL
Sponsoring Arts or cultural activity (Total deduction up to NIL
RM1,000,000)
- Tax deduction up to RM700,000 (local) – Approved by
minister
- Tax deduction up to RM300,000 (foreign)
Statutory audit fees NIL
Accounting fees NIL
Secretarial fees & tax filing fees (Restricted to RM15,000) NIL
Entrance fees to trade association xx
Annual fees to trade association NIL
Legal fees on recovery of trade debts NIL
Legal fees on tac appeal/purchase of assets xx
Zakat xx
Employees benefits NIL
Cost of developing website (20% nil , 80% add back xx
Loss on disposal of an asset xx XX
COMPUTATION OF STATUORY BUSINESS INCOME FOR YA 2021
RM RM
Net Profit/ Net Loss XX/(XX)
Add: Revenue not recorded
Sales Omitted XX
Drawings (Market Value/ Selling Price) XX
Bad debt recovered (if the bad debt is previously allowed and not XX XX
yet added to SOPL)
Less: Non-Business Income [4(b) – 4(d)]
Discount received from supplier (Trade) xx
Commission from supplier (Trade) xx
Insurance compensation on damaged stock (Trade) xx
Compensation received from supplier (Trade) xx
Interest charged on debtors for late payment 4(c) xx
Dividend income (Investment income) 4(c) xx
Interest income 4(c) xx
Royalty income 4(d) xx
Rental income 4(d) xx
Gain on disposal of non – current assets (Capital Receipt) xx (xx)
Add: Non-Allowable Expenses
Remuneration to owner (All the expenses related to owner is NAE) xx
Salary and bonus for employees Nil
EPF for employees (Max allowable expenses is = 19% x TR) xx
Lease Rental – Passenger vehicle, deduction restricted to XX
- Cost < RM150,00 = Max is RM100,000 (if the cost od the car
less than 100,000, use the cost of the car not RM100,000)
- Cost > RM150,000 = Max is RM50,000
- Secondhand MV = Restricted to RM50,000
Bad Debt NIL
Specific provision NIL
General provision xx
Bad debt written off NIL
Trade debt taken over / non – trade taken over xx
Rent Expenses – for Business purposed NIL
Interest Expenses – For Business purposed NIL
Loss resulting from employees defaulting on a loan/advance to xx
employee
Damages xx
Cost of tac appeal xx
Violation of laws – fine and penalties xx
Defaecation by directors xx
Defaecation by Employees (Trading Loss) NIL
Entertainment expenses
To entertain supplier and bankers 50%
allowable
To entertain employees NIL
Entertainment allowance to employees 50%
allowable
, Entertainment to client/customers 50%
allowable
Reimbursed entertainment exp – to entertain client 50%
allowable
Reimbursed entertainment exp – Related to sales NIL
Promotional gift at foreign trade fair – promoting export NIL
Promotional samples of product of the business NIL
Promotional gift consisting of company logo of the business NIL
Promotional gift without logo of the business 50%
allowable
Cultural or sporting events to promote the business – open to public NIL
Cultural or sporting events to promote the business – Not open to 50%
public allowable
Entertainment relates wholly to sales (Refer PR4/2015) NIL
Leave passage for employees – Yearly event, within Malaysia NIL
Leave passage – Overseas xx
Capital expenditure (initial expenses, acquisition of assets, xx
improvement to assets, acquisition repair, painting, replacement on
whole or major part of then asset, renovation)
Revenue Expenditure (repair and maintenance, replacement on NIL
minor parts of the asset, renewal, repainting, rewiring, road tax,
insurance)
Life insurance on business owner, directors of a controlled co, xx
partners in partnership or sole trader
Depreciation xx
Domestic or private expenses (not for business purpose) xx
Expenditure in respect of translation/publication of books – NIL
approved
Provision of Library Facilities
- Sec 34(6)(g): Deductible, restricted to RM100,000 (cash & NIL
in-kind)
- Sec 44(8): In – kind/cash, Non Allowable Expenses xx
Social responsibility payment – approved by Minister NIL
Musical and Cultural group – approved by Minister NIL
Sponsoring Arts or cultural activity (Total deduction up to NIL
RM1,000,000)
- Tax deduction up to RM700,000 (local) – Approved by
minister
- Tax deduction up to RM300,000 (foreign)
Statutory audit fees NIL
Accounting fees NIL
Secretarial fees & tax filing fees (Restricted to RM15,000) NIL
Entrance fees to trade association xx
Annual fees to trade association NIL
Legal fees on recovery of trade debts NIL
Legal fees on tac appeal/purchase of assets xx
Zakat xx
Employees benefits NIL
Cost of developing website (20% nil , 80% add back xx
Loss on disposal of an asset xx XX
