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Briefly explain tax treatment in Malaysia for the following situation. Ace Sdn. Bhd. was incorporated...

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Accounting

Briefly explain tax treatment in Malaysia for the following situation.

Ace Sdn. Bhd. was incorporated on 1 March 2020 with an authorized share capital of RM1,000,000. It incurred incorporation expenses of RM6,500. The company did not commence business until 1 June 2020. Its authorized share capital increased to RM3,000,000 on 1 December 2020.

(3 marks)

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