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Entertainment expense which is wholly and exclusively incurred in the production of gross income under subsection 33(1) of the ITA and falls within any of the provisos (i) to (viii) to paragraph 39(1) (l ) of the ITA is fully allowable.
Aug 4, 2023 · Entertainment expenses are a common topic of inquiry from clients, relatives, and acquaintances, each seeking clarity on their tax treatment. This article aims to address two frequently asked questions and delve into the intricacies of the tax treatment of entertainment expenditures. Question 1: Is Ang Pow an Entertainment Expense
T.O Entertainment. Credits. Logo (2000s-2010s) Visuals: On a white gradient background, the camera pans down from an open red T shape and the black text " T.O Entertainment " flies from above into the bottom. A slow-motion take is shown as the text makes a close-up to the camera, with a flare passing in front of the letters.
“Entertainment” includes –. the provision of food, drink, recreation or hospitality of any kind; or. the provision of accommodation or travel in connection with or for the purpose of facilitating entertainment of the kind mentioned in paragraph (a), by a person or an employee of his in connection with a trade or business carried on by that person.
entertainment expense is allowable and the amount to be allowed: a) No deduction for entertainment expense is allowed if it does not fall within the definition of “entertainment” in S.18 of the ITA.
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Director General Inland Revenue, Inland Revenue Board Malaysia. This ruling explains: the tax treatment of entertainment expense as a deduction against gross income of a business; and. steps to determine the amount of entertainment expense allowable as a deduction.
