APRIL 29 — While many SMEs started to receive the Wage Subsidy Scheme, which is a timely assistance to many of them, many are asking about the details subsequent to this payment. One common question that I receive is whether this subsidy is taxable. Current accounting standards state that the...
Wednesday, 29 Apr 2020 02:41 PM MYT
One common question that I receive is whether this subsidy is taxable. Current accounting standards state that the subsidy shall be treated as “other income”, which means, under normal circumstances, this subsidy is taxable.
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