FRSIC Consensus 1 – Determination Of Substantively Enacted Tax Rate For Year Of Assessment 2008 And Thereafter (1 August 2007)

The effective date of the application of this FRSIC CONSENSUS was 1 August 2007.

The release of FRSIC Consensus 1 – Determination Of Substantively Enacted Tax Rate For Year Of  Assessment 2008 And Thereafter provides guidance, to address use of tax rates when dealing with temporary differences to arrive at the amount of deferred tax assets or liabilities in Year Of Assessment 2008 in view of the government’s announcement in 2007 budget speech that corporate tax would be reduced from 27% for Year Of Assessment 2007 to 26% for Year Of Assessment 2008.

You can download FRISC Consensus 1 here: http://www.frsic.my/consensus_consensus.asp

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