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Malaysia Tax Law Al Sdn Bhd (AI), a manufacturing company and Malaysian tax...

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Accounting

Malaysia Tax Law

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Al Sdn Bhd (AI), a manufacturing company and Malaysian tax resident, closes its accounts to 31 December each year. On 2 December 2016, Al acquired a non-commercial, reconditioned passenger vehicle for RM150,000. The vehicle was used by a director In the year ended 31 December 2019. Al disposed of the vehicle for RM60,000 What is the balancing charge arising on the disposal of the passenger vehicle in the year of assessment 2019

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