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An accountant has approached you to seek clarification on withholding tax that may be applicable...

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Accounting

  1. An accountant has approached you to seek clarification on withholding tax that may be applicable in the following circumstances.

  1. Interest derived from deposits placed in Malaysia by Hong Kong residents
  2. Interest received by Malaysian residents who have deposits in Malaysian Bank.

Explain whether withholding tax provisions are applicable in each of the situation above.

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