Part 3 Tax Planning for Property Developers. TST Consultants Sdn Bhd 1
|
|
- Joshua Alexander
- 5 years ago
- Views:
Transcription
1 Part 3 Tax Planning for Property Developers TST Consultants Sdn Bhd 1
2 Tax Planning for Property Developer A. Purchase the land or Purchase the share? (Beware the capital reserve and deferred Tax) B. Disposal of property stock or company share? C. Purchase of land under individual or company at the outset? D. Individual landowner involves in development? TST Consultants Sdn Bhd 2
3 A. Purchase the land or Purchase the share? Acquisition Developer acquired land for RM10m Developer acquired share for RM10m (land cost show book value of RM3m) Add: Development expenditure Development property Progress billing Land RM 10,000,000 50,000,000 60,000,000 70,000,000 Share RM 3,000,000 50,000,000 53,000,000 70,000,000 Gross profit 10,000,000 17,000,000* Purchase of share shown a higher profit and higher tax Disadvantage to purchase share TST Consultants Sdn Bhd 3
4 B. Disposal of property stock or share 1/1/11 Developer A acquired land Developer A acquired share RM3,000,000 31/12/12 Incurred property development expenses Total property development cost 31/12/12 Disposal of property stock/share to Developer B Upon obtaining the development order Profit from disposal of property stock/share Less: operating expenses Chargeable income 31/12/12 Tax payable =500,000 x 20%+800,000 x 25% Not taxable on share transfer (IRB charge RPGT?*) Refer to BH V. KPHDN Stock 3,000, ,000 3,500,000 5,000,000 1,500, ,000 1,300, ,000 Share 3,000, ,000 3,500,000 5,000,000 1,500, ,000 1,300,000 Nil* TST Consultants Sdn Bhd 4
5 BH V. KPHDN (2003) Fact: TP acquired a total amount of 75,000 shares in a property developer company & subsequently sold the shares to another company Issue: Whether the sales of shares by TP are subject to RPGT Act Held: HC held that asset of the property developer company comprising land was not real property but stock in trade. Therefore not a chargeable asset under RPGT Act CA reversed the decision of HC and held that disposal of shares is subject to RPGT Act TST Consultants Sdn Bhd 5
6 C. Tax Planning for developer Cost & Benefit Purchase the vacant land under individual name Then transfer to a Company A for RM20M Individual Company A Purchase the vacant land under personal name Transfer the vacant land to a Company Opportunity cost: Transfer the land to a company: Paid addition Stamp duty (say, 3% on RM20M) Other incidental cost 10,000, , ,000 20,000,000 Land cost 11,000,000 20,000,000 Opportunity Benefit (say, 25% of 9,000,000) 2,250,000 TST Consultants Sdn Bhd 6
7 Transfers between individual and his company DGIR V LCW (1975) principle Transfer is at Market value (not cost price) Example: From Cost price 10 M to Market value 20 M Opportunity benefit is RM2,250,000 Chargeable gains is RM9,000,000@30%;20%;15% & Nil Opportunity benefit RPGT Tax/Saving Yr 1 to 3 2,250,000 2,700,000 (450,000) Yr 4 2,250,000 1,800, ,000 Yr 5 2,250,000 1,350, ,000 Yr 6 2,250,000 Nil 2,250,000 TST Consultants Sdn Bhd 7
8 D. Individual landowner involves in development? Transfer to a development company or Sign a JV agreement Incorporate a Company JV Agreement Stamp duty No stamp duty Market value JV consideration Arm length Two parties negotiation RPGT RPGT TST Consultants Sdn Bhd 8
9 Q & A TST Consultants Sdn Bhd 9
10 Part 3.1 Tax Issues Affecting Property Developers TST Consultants Sdn Bhd 10
11 Part 3.1 Trading or Investment (IT vs RPGT) TST Consultants Sdn Bhd 11
12 3.1) Trading or Investment (IT vs RPGT) RPGT and IT are mutually exclusive. A tax person can not be subjected to both RPGT and IT at the same time. TST Consultants Sdn Bhd 12
13 Whether the profit is subject to IT or RGPT? Income Tax (20%-25%) RPGT (0%-30%) Intention ST profit & for resale LT investment Holding Period ST for trade LT for Investment Method of Finance ST O/D LT finance indicate investment Frequency repetitive transactions Not frequent Accounting Evidence Current Asset Fixed Asset Modification of asset e.g. sub-division No modification of asset TST Consultants Sdn Bhd 13
14 Teruntum Theatre v K P H D N Held that the IRB may reassess the taxpayer IRB is not estopped from withdrawing the RPGT assessment Gains are subject to income tax TST Consultants Sdn Bhd 14
15 Part 3.2 Compulsorily Acquisition of land TST Consultants Sdn Bhd 15
16 3.2. Compulsorily Acquisition of land A) RPGT Act Schedule 2, Para.3 (f) special exemption on Transfers due to compulsory acquisition under any law TST Consultants Sdn Bhd 16
17 B) Case Law Perak construction S/B V KPHDN (2001) Fact: A property development company 1975:acquired land Land was capitalized & shown as fixed asset Company neither a dealer in land or trader in building 1981: Initial acquisition by the Government was withdrew 1982: Development plan submitted but no approval given 1995: government made an acquisition & paid compensation Held: Compulsory acquisition is not subject to income tax, as it is not in ordinary course of trade Compulsory acquisition negated the intention to trade TST Consultants Sdn Bhd 17
18 Penang Realty Sdn Bhd Vs. KPHDN (2006) Fact: 1956: purchase a plot of land Company was a property developer A portion of the land was compulsorily acquired & compensation paid Held: The element of compulsion vitiates the intention to trade; Not in the ordinary course of business, therefore cannot constitute a sale Therefore not subject to tax TST Consultants Sdn Bhd 18
19 C) Decision Impact Statement (DGIR s explanatory statement) In 2007: DGIR issued Decision Impact Statement (DIS), outlines their position on Penang Realty s case DIS states the decision in Penang Realty s case was heavily relied upon the Lower Perak case CA did not consider the provision of S24(1)(a) of ITA DIS treating the CA s decision as Per incuriam ( where a statute which would have affected the decision was not brought to the attention of the court. TST Consultants Sdn Bhd 19
20 D) Income Tax Act 1967 S24(1)(a) of ITA provides that any debt arises in respect of any stock in trade which is compulsorily acquired in the course of carrying on a business, shall be treated as gross income from a business S4 lists the classes of income subjected to income tax S4(a) include gains or profits from a business (relevant to S24) Both S24 (1)(a), S4(a) mentioned the element of business S2 defined business involves element of trade It follows that there must be engaged in trading activities and thus intention to trade is important TST Consultants Sdn Bhd 20
21 E) Judicial Precedent on Intention to trade Lower Perak Co-operative Housing society Berhad V KPHDN (1994) held that non-commercial motivation may affect the nature of trading transactions that they cease to be normal trading; the element of compulsion vitiates the intention to trade Perak Contruction S/B V. KPHDN (2001) held that the element of compulsion negated intention to trade Penang Realty S/B v KPHDN (2006) (Relied upon the Lower Perak Case) Held that compulsory acquisition cannot constitute sale; element of compulsion vitiates the intention to trade TST Consultants Sdn Bhd 21
22 F) Arguments IRB: Argue the important of S24 Decision impact statement Opponents: The original intention to trade by acquired assets under stock in trade is relevant Based on the judicial precedent and interpretation on the nature of trading transaction; compulsion vitiated the intention to sales; therefore not subject to income tax DIS issued by IRB is a guide and not a law, unless there is a more specific provision to that effect. TST Consultants Sdn Bhd 22
23 G) Judicial Review KPHDN V. Pelangi Sdn Bhd (2012) (Federal court) HC held: The Revenue was bound by the decisions in Penang Realty & Lower Perak The Revenue DIS had no legal effect The Revenue decision to charge income tax shall be quashed The tax collected was unlawful, therefore need to refund with 4% interest to TP CA unanimously affirmed HC decision Federal Court unanimously dismissed Revenue application for leave to appeal. See also: KPHDN V. Metacorp Development Sdn Bhd (2013) (Federal court) HC follow the Penang Realty case CA unanimously affirmed the HC decision FC unanimously dismissed Revenue application for leave to appeal TST Consultants Sdn Bhd 23
24 Budget 2014 Business Income Section 4C (New) S4C(New) Gains or profits from business includes amount receivable from stock in trade parted with by any element of compulsion Effective from YA 2014 TST Consultants Sdn Bhd 24
25 Business Income: Section 24(1)(aa) (New) Amended Section 24(1)(a) amended Any debt arises in respect of any stock in trade sold in or before the relevant period in the course of carrying on a business Para. 24(1)(aa)(new) Any stock in trade parted with by any element of compulsion including on requisition or compulsory acquisition or in a similar manner, in or before the relevant period Effective from YA 2014 TST Consultants Sdn Bhd 25
26 Part 3.3 Transfer of Land from Fixed Asset To stock-in-trade TST Consultants Sdn Bhd 26
27 A) ITA doest not cover the situation. S35(1) & (3) covers only the valuation of trading stock B) Case Law DGIR V LCW (1975) C) RPGT Act S17A Transfer of Assets into Stock TST Consultants Sdn Bhd 27
28 A) Income Tax Act-Valuation of Stock in trade S35(1) provides the valuation of trading stock the value of the stock in trade of the business at the beginning and at the end of that period shall be taken into account in accordance with the following subsections S35(3)(a) provides that the stock consisting of immovable properties, stocks, shares or marketable securities, the value thereof at the end of the relevant period shall be taken to be an amount equal to its cost price to that relevant person or its market value at that time, whichever is the lower S35(1) & (3) covers only the valuation of trading stock What happen if the asset is transfer during the period? The provision did not cover this situation Example: transfer of fixed asset to stock in trade in the middle of trading period TST Consultants Sdn Bhd 28
29 B) Case Law DGIR V LCW (1975) Fact: 1953: TP acquired a piece of land & treated as fixed asset TP initial intention is construction of flats for the purpose of rent as investment 1967: TP change his intention from renting out to selling them 1967: Land was transfer from the fixed asset to trading account Issue: Whether there is a trading in land Whether the land transfer be taken as cost or market value Held: Gains from trading of land be subjected to tax as business income Land transfer be taken as market value TST Consultants Sdn Bhd 29
30 C) RGPT Transfer of Assets into Stock S17A (a) an asset is taken into the trading stock, there shall be deemed to be a disposal of chargeable asset; and S17A(b) the disposal price of the chargeable asset shall be equal to the market value at the asset is taken into the stock TST Consultants Sdn Bhd 30
31 Part 3.4 Transfer Trading Stock to Fixed Assets TST Consultants Sdn Bhd 31
32 Income Tax Amount to a withdrawal of stock in trade for his own use S24(2)provides that (a) any stock in trade of a business is withdrawn for his own use (b) any stock in trade of a business is withdrawn without any consideration An amount equal to the market value of that stock in trade shall be treated as gross income TST Consultants Sdn Bhd 32
33 Example A: Developer A S/B withdrew 5 units unsold housed from stock in trade & transfer to fixed assets and subsequently rental out for rental income S24(2)(a)& (b) will apply The market value of the stock be treated as gross income Rental income is assessed under S4(d) of ITA TST Consultants Sdn Bhd 33
34 Example B: Developer B S/B completed a project of 300 units of D/S link house The company sold 290 units with 10 units unsold and subsequently rented out for rental S24(2)(a)& (b) will not apply Rental income will be assessed under S4(a) of ITA TST Consultants Sdn Bhd 34
35 Q & A TST Consultants Sdn Bhd 35
USAACE & Fort Rucker Preventative Law Program. Alabama Lemon Law
USAACE & Fort Rucker Preventative Law Program Alabama Lemon Law THIS PAMPHLET contains basic information on this particular legal topic for your general information. If you have specific questions, contact
More informationCHARTERED TAX INSTITUTE OF MALAYSIA ( T) (Institut Percukaian Malaysia) PROFESSIONAL EXAMINATIONS. Time allowed: 3 hours
CHARTERED TAX INSTITUTE OF MALAYSIA (225750 T) (Institut Percukaian Malaysia) PROFESSIONAL EXAMINATIONS FINAL LEVEL REVENUE LAW DECEMBER 2014 Student Reg. No Desk No Date Examination centre Time allowed:
More informationGeorgia Department of Revenue Policy Bulletin - MVD HB 170 Transportation Funding Act of 2015
Georgia Department of Revenue Policy Bulletin - MVD - 2015-01 HB 170 Transportation Funding Act of 2015 1) Purpose: Effective Date: July 1, 2015. 2) Authority: O.C.G.A. 40-2-11, 40-2-86.1, 40-2-151, 40-2-151.1,
More informationLazydays Holdings, Inc. Reports Second Quarter 2018 Financial Results
News Contact: +1 (813) 204-4099 investors@lazydays.com Lazydays Holdings, Inc. Reports Second Quarter 2018 Financial Results Tampa, FL (August 9, 2018) Lazydays Holdings, Inc. ( Lazydays )(NasdaqCM: LAZY)
More informationLazydays Holdings, Inc. Reports Third Quarter 2018 Financial Results
News Contact: +1 (813) 204-4099 investors@lazydays.com Lazydays Holdings, Inc. Reports Third Quarter 2018 Financial Results Tampa, FL (November 8, 2018) Lazydays Holdings, Inc. ( Lazydays ) (NasdaqCM:
More informationANNOUNCEMENT FOR PUBLIC RELEASE OPERATION AND MAINTENANCE AGREEMENTS NO. 1, NO. 2 AND NO. 3
PERAK CORPORATION BERHAD (210915-U) (Incorporated in Malaysia) ANNOUNCEMENT FOR PUBLIC RELEASE OPERATION AND MAINTENANCE AGREEMENTS NO. 1, NO. 2 AND NO. 3 1.0 INTRODUCTION On behalf of the Board of Directors
More informationRSPO PalmTrace - Book and Claim Terms and Conditions
1. Introduction 1.1 The Roundtable on Sustainable Palm Oil ( RSPO ), a non-profit association registered in Switzerland under Swiss law, supports the following supply chain models for the uptake of certified
More information8/19/2014 TR 2013/3 - Income tax: research and development tax offsets: feedstock adjustments (As at 20 February 2013)
Taxation Ruling TR 2013/3 Income tax: research and development tax offsets: feedstock adjustments Please note that the PDF version is the authorised version of this ruling. There is a Compendium for this
More informationTARIFF DECISION FOR SASOL OIL (PTY) LTD S SECUNDA TO NATREF INTEGRATED (SNI) PIPELINE
TARIFF DECISION FOR SASOL OIL (PTY) LTD S SECUNDA TO NATREF INTEGRATED (SNI) PIPELINE 10 MAY 2018 Page 1 of 19 TABLE OF CONTENTS Introduction... 6 Applicable Law... 6 The Methodology... 6 Decision-Making
More informationInternal Revenue Service
Internal Revenue Service Number: 201411004 Release Date: 3/14/2014 Index Number: 7704.00-00, 7704.03-00 ------------------------------------------------ --------------------------------------- --------------------------------------
More informationaccording to Annex 30A of the Regulation no. 1/2006 with subsequent amendments regarding the issuers and securities operations
Quarterly Report on March 31 st, 2016 according to Annex 30A of the Regulation no. 1/2006 with subsequent amendments regarding the issuers and securities operations Date of report: March 31 st, 2016 Company's
More informationNEW HAMPSHIRE LEMON LAW SUMMARY
NEW HAMPSHIRE LEMON LAW SUMMARY EXECUTIVE SUMMARY TIME PERIOD FOR FILING CLAIMS ELIGIBLE VEHICLE One year following expiration of the express warranty term. If purchased or leased in New Hampshire: (1)
More informationMAINE LEMON LAW SUMMARY
MAINE LEMON LAW SUMMARY EXECUTIVE SUMMARY TIME PERIOD FOR FILING CLAIMS ELIGIBLE VEHICLE Earlier of (1) three years from original delivery to the consumer, or (2) the term of the express warranties. Any
More informationPETROBRAS ARGENTINA S.A.
PETROBRAS ARGENTINA S.A. Fiscal Year 2014 Results Buenos Aires, February 4, 2015 Petrobras Argentina S.A. (Buenos Aires: PESA NYSE: PZE) announces the results for fiscal year ended December 31, 2014. Petrobras
More information2005 Tax Line Conversion Chart Partnership
2005 Tax Line Conversion Chart Partnership A WoltersKluwer Company 1 01A A-1 40 Gross receipts or sales 01B A-1 41 Returns and allowances 4 A-1 45 Ord inc/loss from Part/Fiduc. 5 A-1 44 Net farm profit
More informationThe principal activities of UMWD are mainly investment holding and property development.
1. INTRODUCTION UMW Holdings Berhad ( UMW Holdings or the Company ) wishes to announce that its wholly-owned subsidiary, UMW Corporation Sdn Bhd ( UMWC ), has today entered into a Settlement Agreement
More informationTax and Revenue Administration (TRA)
Tax and Revenue Administration (TRA) Fuel Tax Act Information Circular FT-1R1 Overview of Fuel Tax Last updated: February 9, 2017 NOTE: This information circular is intended to explain legislation and
More informationClass 43.1, Class 43.2 and CRCE Presentation to Canadian Solar Industries Association
1 Class 43.1, Class 43.2 and CRCE Presentation to Canadian Solar Industries Association Michel Francoeur, P. Eng., Class 43.1/43.2 Secretariat Engineer Policy and Planning Branch Innovation and Energy
More informationPreliminary Results 12 May 2009
Preliminary Results 12 May 2009 Working together for Greener logistics solutions For period ended 28 February 2009 www.stobartgroup.com Highlights Year of growth, laying foundations for the multimodal
More informationDMV Certified Dealer Education since gotplates. Copyright TriStar Motors LLC
Practice Examination for DMV Pre License Dealer Test 1. A dealer s license and special plates shall be automatically canceled if: A. The dealer abandons the established place of business B. The dealer
More informationMaryland Lemon Law Statute. For Free Maryland Lemon Law Help Click Here
Maryland Lemon Law Statute For Free Maryland Lemon Law Help Click Here Sections 14-1501 14-1504 of the Commercial Law Articles 14-1501. Definitions In general. -- In this subtitle the following words have
More informationUMW HOLDINGS BERHAD ( P)
EXECUTION OF A SHARE PURCHASE AGREEMENT BETWEEN UMW RIG ASSET (L) LTD AND S.D. STANDARD DRILLING PLC IN RESPECT OF THE ACQUISITION OF THE ENTIRE ISSUED AND PAID-UP CAPITAL IN OFFSHORE DRILLER 4 LTD 1.
More informationAnalysis of Operating Results and Financial Status
Analysis of Operating Results and Financial Status 1. Analysis of Operating Results of EGAT and its Subsidiaries Operating results of EGAT and its subsidiaries including associated company and jointly
More informationMBM Resources Berhad. 17 th Annual General Meeting 14 June 2011 The Learning Academy, Federal Auto Holdings Berhad, Glenmarie
MBM Resources Berhad 17 th Annual General Meeting 14 June 2011 The Learning Academy, Federal Auto Holdings Berhad, Glenmarie 1 Agenda 1) Corporate Structure 2) 2010 Performance 3) Group Corporate Developments
More informationPRO-FORMA FIGURES OF THE A2A GROUP
PRO-FORMA FIGURES OF THE A2A GROUP restated at December 31, 2007 published on March 25, 2009 Contents 3 0.1 Summary of pro-forma figures restated at December 31, 2007 7 0.2 Presentation of the pro-forma
More informationBusiness Information Session August 8, Harmonized Sales Tax (HST)
Business Information Session August 8, 2012 Harmonized Sales Tax (HST) Budget 2012 Fiscal Context Fiscal situation of PEI deteriorated during 2011/12 Deficit rising on lower revenues and higher expenditures
More informationCOMMERCIAL VEHICLE LICENCING
CITY OF RICHMOND COMMERCIAL VEHICLE LICENCING BYLAW NO. 4716 EFFECTIVE DATE FEBRUARY 9, 1987 CONSOLIDATED FOR CONVENIENCE ONLY This is a consolidation of the bylaws listed below. The amendment bylaws have
More informationNew Brunswick transitional rules for HST increase
New Brunswick transitional rules for HST increase April 2016 The 2016-17 New Brunswick budget announced an increase in the HST rate from 13% to 15%, effective July 1, 2016. Transitional rules have recently
More information"Buyer" or "you" means the person, firm or corporation to whom the order is addressed.
1. Definitions "Australian Consumer Law" means the Australian Consumer Law set out in Schedule 2 to the Competition and Consumer Act 2010 (Cth) as given effect under Part XI of the Competition and Consumer
More informationRatchaburi Electricity Generating Holding PCL. Management Discussion and Analysis For the Year Ended December 31, 2012
Ratchaburi Electricity Generating Holding PCL Management Discussion and Analysis (Translation) Ratchaburi Electricity Generating Holding Public Co., Ltd. Management Discussion and Analysis 1. Significant
More informationSGS Galson Laboratories, Inc. Equipment Rental, FreePumpLoan & FreeSamplingBadges (3-in-1) Agreement
SGS Galson Laboratories, Inc. Equipment Rental, FreePumpLoan & FreeSamplingBadges (3-in-1) Agreement This Equipment Rental, FreePumpLoan & FreeSamplingBadges (3-in-1) Agreement (the Agreement ) is entered
More informationTHE CONNECTICUT LIGHT AND POWER COMPANY dba EVERSOURCE ENERGY AND THE UNITED ILLUMINATING COMPANY
THE CONNECTICUT LIGHT AND POWER COMPANY dba EVERSOURCE ENERGY AND THE UNITED ILLUMINATING COMPANY Virtual Net Metering Application Effective November 18, 2016 This application form addresses virtual net
More information2. General Information on Recharge Centers
Recharge Center Policy & Procedures 1. Introduction and Definition 2. General Information on Recharge Centers 3. Expenditures/Costs 4. Rate Setting 5. Taxes 6. Deficits, Surpluses, and Working Capital
More informationTransitional Rules for the Nova Scotia HST Rate Increase
Transitional Rules for the Nova Scotia HST Rate Increase for the fiscal year 2010 2011 As of April 15, 2010 This Notice provides general descriptions of transitional rules for the increase in the Harmonized
More informationHealthier Net Profit under Stronger IDR
Investor Bulletin, First Half 2002 Healthier Net Profit under Stronger IDR As of June 2002, the consolidated revenue in USD increased by 32% y.o.y. Due to IDR strengthening against USD, in IDR revenue
More informationProforma undertaking letter from remaining shareholders of acquiree company under Practice Note 2.9.6
1 Appendix I Proforma undertaking letter from remaining shareholders of acquiree company under Practice Note 2.9.6 [Name of remaining shareholder of acquiree] [Company registration number/ic number] [Address]
More informationCHARTER TOWNSHIP OF MUSKEGON COUNTY OF MUSKEGON STATE OF MICHIGAN
CHARTER TOWNSHIP OF MUSKEGON COUNTY OF MUSKEGON STATE OF MICHIGAN AN ORDINANCE TO AMEND CHAPTER 10 OF THE CODE OF ORDINANCES TO INCLUDE REGULATION OF TOWING COMPANIES AND IMPOUND & SALVAGE YARDS WITHIN
More informationGST/HST Memoranda Series
GST/HST Memoranda Series 19.3.8 December 2007 New Housing Rebates and the HST This memorandum explains the GST/HST new housing rebates that are available for a portion of the federal component of the HST
More informationAnnual General Meeting Queries & Answers for Minority Shareholder Watchdog Group (MSWG)
Annual General Meeting Queries & Answers for Minority Shareholder Watchdog Group (MSWG) 9 September, 2015 Question 1: As disclosed in the Group Managing Director s Review of Operations, DRB-HICOM Group
More informationDefinitions.
20-286. Definitions. The following definitions apply in this Article: (1), (2) Repealed by Session Laws 1973, c. 1330, s. 39. (2a) Dealership facilities. The real estate, buildings, fixtures and improvements
More informationThe Board of Directors of Shangri-La Hotels (Malaysia) Berhad ( SHMB ) wishes to announce that its wholly-owned subsidiary, UBN Tower Sdn Bhd has:-
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS TENANCY AGREEMENTS - OFFICE SPACE AT UBN TOWER 1. INTRODUCTION The Board of Directors of Shangri-La Hotels (Malaysia) Berhad
More informationPROPOSED ACQUISITION OF 13 ENTITIES IN PAWN BROKING BUSINESS IN MALAYSIA
PROPOSED ACQUISITION OF 13 ENTITIES IN PAWN BROKING BUSINESS IN MALAYSIA 1. INTRODUCTION The board of directors (the Board or the Directors ) of MoneyMax Financial Services Ltd. (the Company and together
More informationPUBLIC Law, Chapter 539 LD 1535, item 1, 124th Maine State Legislature An Act To Create a Smart Grid Policy in the State
PLEASE NOTE: Legislative Information cannot perform research, provide legal advice, or interpret Maine law. For legal assistance, please contact a qualified attorney. Emergency preamble. Whereas, acts
More informationTelhio Credit Union Account to Account (A2A) Transfer Service User Agreement
Telhio Credit Union Account to Account (A2A) Transfer Service User Agreement IMPORTANT: TO ENROLL IN THE A2A TRANSFER SERVICE YOU MUST CONSENT TO RECEIVE NOTICES AND INFORMATION ABOUT THE SERVICE ELECTRONICALLY.
More informationCalifornia Street Light Association
California Street Light Association STREET LIGHTS OWN OR RENT Public Works Officers Institute League of California Cities/County Engineers Association of California Jean Bonander, Executive Director, CALSLA
More informationGI-192 September Prince Edward Island HST Rate Increase Sales and Rentals of Non-residential Real Property
GST/HST Info Sheet GI-192 September 2016 Prince Edward Island HST Rate Increase Sales and Rentals of Non-residential Real Property On April 19, 2016, the Government of Prince Edward Island announced its
More informationINVESTOR CALL 26 th April, Mahindra Towers
INVESTOR CALL 26 th April, 2012 Mahindra Towers The opportunity Indian Hotel Industry Rs. 191 Bn Leisure usage Rs. 101 Bn Source : IBEF - India Brand Equity Foundation Business Model Revenue recognition
More informationSETTLEMENT AGREEMENT BETWEEN D.J. DESIGN SUPPLIERS SDN. BHD., SOLID PROMENADE SDN. BHD. AND IKHMAS JAYA SDN. BHD., A WHOLLY OWNED SUBSIDIARY OF IJGB
IKHMAS JAYA GROUP BERHAD ( IJGB OR THE COMPANY ) SETTLEMENT AGREEMENT BETWEEN D.J. DESIGN SUPPLIERS SDN. BHD., SOLID PROMENADE SDN. BHD. AND IKHMAS JAYA SDN. BHD., A WHOLLY OWNED SUBSIDIARY OF IJGB 1.
More informationHOUSE BILL No Koch
Introduced Version HOUSE BILL No. 1320 DIGEST OF INTRODUCED BILL Citations Affected: IC 8-1-40; IC 36-7-5.3. Synopsis: Generation of electricity by distributed generation. Provides that the utility regulatory
More informationVertabelo Academy. Terms of Service PLEASE READ ALL OF THE FOLLOWING TERMS OF SERVICE BEFORE USING THIS WEBSITE A. General Terms
Vertabelo Academy Terms of Service PLEASE READ ALL OF THE FOLLOWING TERMS OF SERVICE BEFORE USING THIS WEBSITE A. General Terms 1. These Terms of Service ("ToS") govern users access to and use of the Vertabelo
More informationS.Saravana Kumar. Committed, sound in knowledge, amiable and always well prepared. Qualifications. Practice Areas
S.Saravana Kumar Committed, sound in knowledge, amiable and always well prepared Saravana has appeared in benchmark litigations with a sizeable volume of wins in tax disputes. Praised for his ability to
More informationINCREASING SALES FOR MINING RELATED BUSINESS
Investor Relations of PT UNITED TRACTORS Tbk INCREASING SALES FOR MINING RELATED BUSINESS In the first half 2001, the Company managed to record increase in net revenue from IDR 2.32 trillion to IDR 3.54
More informationSection 1. Chapter 366 of NAC is hereby amended by adding thereto a new section to read as
1 Section 1. Chapter 366 of NAC is hereby amended by adding thereto a new section to read as follows: 1. A bona fide farmer or rancher who, pursuant to section 1 of chapter 235, Statutes of Nevada 2015,
More informationSENATE AMENDMENTS TO SENATE BILL 1008
th OREGON LEGISLATIVE ASSEMBLY-- Regular Session SENATE AMENDMENTS TO SENATE BILL 0 By COMMITTEE ON ENVIRONMENT AND NATURAL RESOURCES April 1 1 1 0 1 On page 1 of the printed bill, line, delete A.,. In
More informationOfficial Journal of the European Union. (Non-legislative acts) REGULATIONS
10.1.2019 L 8 I/1 II (Non-legislative acts) REGULATIONS REGULATION (EU) 2019/26 OF THE EUROPEAN PARLIAMT AND OF THE COUNCIL of 8 January 2019 complementing Union type-approval legislation with regard to
More informationMALAYSIAN RESOURCES CORPORATION BERHAD
MALAYSIAN RESOURCES CORPORATION BERHAD (Company No. 7994D) (Incorporated in Malaysia) Unaudited results of the Group for the 4th quarter ended 31 August 2001. CONSOLIDATED INCOME STATEMENT 4TH QUARTER
More informationSTANDARDS OF THE IDAHO LEMON LAW
STANDARDS OF THE IDAHO LEMON LAW The following is a brief explanation of most relevant provisions of the lemon law. The complete text of the lemon law can be found at Code section 48-901 et seq. VEHICLES
More informationBulletin PST 118 Issued: November 2013 Revised: August 2016
Provincial Sales Tax (PST) Bulletin Bulletin PST 118 Issued: November 2013 Revised: August 2016 Vehicle Services and Parts Provincial Sales Tax Act Latest Revision: The revision bar ( ) identifies changes
More informationTax benefits for ultra low emission vehicles
k0 Tax benefits for ultra low emission vehicles Ultra low emission vehicles (ULEVs) are usually defined as vehicles that emit less than 75g of carbon dioxide (CO2) for every kilometre travelled. They will
More informationGST Latest Updates & Developments
GST Latest Updates & Developments 3 rd October 2015 Presented by Simon Chua ITS Management Sdn Bhd ITS Management Sdn Bhd ~ Simon Chua 1 Speaker profile Simon Chua, CA(M), FCCA(UK), B.Sc (First Class Hons)
More informationSENATE BILL lr1706 A BILL ENTITLED. Vehicle Laws Manufacturers, Distributors, and Factory Branches Prohibited Acts
R SENATE BILL lr0 By: Senators Raskin, Forehand, and Stone Introduced and read first time: February, 00 Assigned to: Judicial Proceedings A BILL ENTITLED 0 0 AN ACT concerning Vehicle Laws Manufacturers,
More informationSMART Program: Ensuring Expanded Access for Low-Income Ratepayers and Communities Updated May 11, 2017
SMART Program: Ensuring Expanded Access for Low-Income Ratepayers and Communities Updated May 11, 2017 Overview: Massachusetts proposed SMART 1 program has the potential to significantly expand the benefits
More informationAnalysis of Operating Results and Financial Status
29 Analysis of Operating Results and Financial Status 1. Analysis of Operating Results of EGAT and Its Subsidiaries Operating results of EGAT and its subsidiaries including associated company and joint
More informationCalifornia Independent System Operator Corporation Fifth Replacement Electronic Tariff
Table of Contents 41. Procurement Of RMR Generation... 2 41.1 Procurement Of Reliability Must-Run Generation By The CAISO... 2 41.2 Designation Of Generating Unit As Reliability Must-Run Unit... 2 41.3
More informationEvery Disclosure Document issued by a Franchisor Member pursuant to the Code shall comply with the following requirements: -
C:\Users\Vera\Documents\Documents\FASA\DisclosureDocument\DISCLOSURE DOCUMENT REQUIREMENTS updated13aug 2011DRAFT.doc 29 August 2011 FRANCHISE ASSOCIATION OF SOUTH AFRICA DISCLOSURE DOCUMENT REQUIREMENTS
More informationFactbook. Tokyo Electric Power Company Holdings, Inc. August Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.
Factbook Tokyo Electric Power Company Holdings, Inc. August 2018 (Note) Please note that the following to be an accurate and complete translation of the original Japanese version prepared for the convenience
More informationExcise Taxes and Special Levies Memorandum
Excise Taxes and Special Levies Memorandum X3.1 July 2013 Goods Subject to Excise Tax This memorandum outlines the application of the excise tax imposed by Part III of the Excise Tax Act (the Act) on specific
More informationregistered with TRA as a carbon levy direct remitter for transportation fuels; or
Tax and Revenue Administration (TRA) Transportation Fuels Carbon Levy Remitter Return Instruction Guide Date released / updated: January 2018 Transportation Fuels Carbon Levy Remitter Return Instruction
More informationPLEASE NOTE Legislative Counsel Office not Table of Public Acts
c t FRANCHISES ACT PLEASE NOTE This document, prepared by the Legislative Counsel Office, is an office consolidation of this Act, current to December 2, 2015. It is intended for information and reference
More informationGeneral terms and conditions One-off Parking Agreements
General terms and conditions One-off Parking Agreements A General provisions Article 1 Definitions One-Off Parking Agreement A parking agreement that is concluded subject to the conditions described in
More information79th OREGON LEGISLATIVE ASSEMBLY Regular Session. House Bill 3157
th OREGON LEGISLATIVE ASSEMBLY--0 Regular Session House Bill Sponsored by Representatives DOHERTY, MCLAIN (at the request of Radio Cab Company) SUMMARY The following summary is not prepared by the sponsors
More informationFEDERAL EXCISE TAXES (F.E.T.) CALCULATIONS
FEDERAL EXCISE TAXES (F.E.T.) CALCULATIONS Foreword: Trailers are normally designed to transport a particular type of cargo and, as a result of that design, are assigned a Gross Vehicle Weight Rating (GVWR)
More informationECOMP.3.A EUROPEAN UNION. Brussels, 12 December 2018 (OR. en) 2018/0220 (COD) PE-CONS 67/18 ENT 229 MI 914 ENV 837 AGRI 596 PREP-BXT 58 CODEC 2164
EUROPEAN UNION THE EUROPEAN PARLIAMT THE COUNCIL Brussels, 12 December 2018 (OR. en) 2018/0220 (COD) PE-CONS 67/18 T 229 MI 914 V 837 AGRI 596 PREP-BXT 58 CODEC 2164 LEGISLATIVE ACTS AND OTHER INSTRUMTS
More informationGrindrod Investments Proprietary Limited (Incorporated in the Republic of South Africa) (Registration number 1957/003944/07) ( Grindrod Investments )
Remgro Limited (Incorporated in the Republic of South Africa) (Registration number 1968/006415/06) Share code: REM ISIN: ZAE000026480 acting through its wholly-owned subsidiary Industrial Partnership Investments
More informationPreface Who Should Read This Book 3 Organization and Content 4 Acknowledgments 5 Contacting the Author 5 About the Author 5
Preface.................................................................... 3 Who Should Read This Book 3 Organization and Content 4 Acknowledgments 5 Contacting the Author 5 About the Author 5 Table of
More information3QFY2018 Financial Results. Quarter Ended 31 December 2017
3QFY2018 Financial Results Quarter Ended 31 December 2017 Disclaimer This presentation is not and does not constitute an offer, invitation, solicitation or recommendation to subscribe for, or purchase,
More informationA BILL FOR AN ACT RELATING TO INTERISLAND ELECTRIC TRANSMISSION CABLE SYSTEMS. 1 SECTION 1. The legislature has found that attaining energy
HOUSE OF REPRESENTATIVES K 2523 TWENTY-SIXTH LEGISLATURE, 2012 IN RD. 1 STATEOFI-IAWAII A BILL FOR AN ACT RELATING TO INTERISLAND ELECTRIC TRANSMISSION CABLE SYSTEMS. BE IT ENACTED BY THE LEGISLATURE OF
More informationThis notice provides rules claimants must follow to make a one-time claim for
Part III - Administrative, Procedural, and Miscellaneous Biodiesel and Alternative Fuels; Claims for 2014; Excise Tax Notice 2015-3 Section 1. PURPOSE This notice provides rules claimants must follow to
More information3 rd National GeoExchange TM Business and Policy Forum. November 17-18, 2008
3 rd National GeoExchange TM Business and Policy Forum November 17-18, 2008 How Class 43.2 Applies to GX Systems Tom J. Jewett Industrial Applications Officer CANMET Energy Technology Centre Presentation
More information1QFY2018 Financial Results. Quarter Ended 30 June 2017
1QFY2018 Financial Results Quarter Ended 30 June 2017 Disclaimer This presentation is not and does not constitute an offer, invitation, solicitation or recommendation to subscribe for, or purchase, any
More informationBill 116 (2000, chapter 22) An Act to amend the Act respecting the Régie de l énergie and other legislative provisions
FIRST SESSION THIRTY-SIXTH LEGISLATURE Bill 116 (2000, chapter 22) An Act to amend the Act respecting the Régie de l énergie and other legislative provisions Introduced 11 May 2000 Passage in principle
More informationBlueScope Steel Limited Consolidated Financial Headlines
BlueScope Steel Limited Consolidated Financial Headlines 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2013 2013 2014 2014 2014 2015 2015 2015 2016 2016 2016 2017 2017 2017 2018 2018 2018 Total
More informationStronger Fundamental and Excellent Growth
Investor Bulletin, First Half 2004 Stronger Fundamental and Excellent Growth For the first six months of 2004, PT United Tractors Tbk (UT/Company) recorded consolidated net revenue of IDR 4.29 trillion,
More informationThe Proposed Disposal falls within the ambit of Section 132E of the Companies Act, 1965 ( Act ).
TAN CHONG MOTOR HOLDINGS BERHAD ( TCMH OR THE COMPANY ) - PROPOSED DISPOSAL OF ASSETS BY TC ALUMINIUM CASTINGS SDN BHD (AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF TCMH) TO APM THERMAL SYSTEMS SDN BHD (A WHOLLY-OWNED
More informationAdvanced World Transport. Destination Europe
Advanced World Transport Destination Europe 8 January 2015 Disclaimer This presentation was prepared by PKP CARGO S.A. ( Company, PKP CARGO ) for information purposes only. It cannot be duplicated, disseminated,
More informationThe 2 nd Quarter and 6-Month of 2014 Operating Performance Analysis of TRC Construction Public Company Limited and Its Subsidiaries
1 The 2 nd Quarter and 6-Month of 2014 Operating Performance Analysis of TRC Construction Public Company Limited and Its Subsidiaries (Unit : Million Baht) The 1st Qtr The 2nd Qtr The 2nd Qtr (2 nd Qtr
More informationGENERAL TERMS AND CONDITIONS OF EINDHOVEN AIRPORT PARKING FACILITIES Ryanair
GENERAL TERMS AND CONDITIONS OF EINDHOVEN AIRPORT PARKING FACILITIES Ryanair Article 1 Definitions Reserved Parking: Eindhoven Airport parking products that can be booked via internet. EANV: Eindhoven
More informationCB Industrial Product Holding Berhad Equipping Palm Oil Industries Around The World. CBIP Financial Highlights 2Q 2012
CB Industrial Product Holding Berhad Equipping Palm Oil Industries Around The World CBIP Financial Highlights 2Q 2012 Operational Highlights Leading engineering company specializing in construction and
More informationJoint Venture Agreement ( JVA ) with Nissan in respect of the establishment and operation of NVL ( Proposed Joint Venture ).
TAN CHONG MOTOR HOLDINGS BERHAD Proposed Acquisition of 74% Charter Capital of Nissan Vietnam Co., Ltd. and Proposed Joint Venture with Nissan Motor Co., Ltd. 1.0 INTRODUCTION The Board of Directors of
More informationFISCAL YEAR END MARCH 2013 FIRST HALF FINANCIAL RESULTS. New Mazda6 (Atenza)
FISCAL YEAR END MARCH 2013 FIRST HALF FINANCIAL RESULTS New Mazda6 (Atenza) Mazda Motor Corporation October 31, 2012 1 PRESENTATION OUTLINE Highlights Fiscal Year March 2013 First Half Results Fiscal Year
More informationJun-14 Jun-13 Jun-12 Jun-14 Jun-13 Jun-12 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000. Turn Over 25,624 26,675 34,
JAVA BERHAD ( JAVA OR COMPANY ) - REPLY TO QUERY FROM BURSA MALAYSIA SECURITIES BERAHD ( BURSA SECURITIES ) ON CESSATION OF TIMBER OPERATIONS OF JAVA INDUSTRIES SDN BHD, JAVA WOODS SDN BHD, JAVA TIMBER
More informationDriving Value in an Inflated Market. June 24, 2015
Driving Value in an Inflated Market June 24, 2015 Group 1 Automotive Ticker: GPI Stock Price: $82.53 * Group 1 owns and operates auto dealerships Third largest dealership group in the U.S. retailing 275,000
More informationMay 2017 Pei Sue Ong, Capital Accounting Advice Manager Pacific Gas and Electric Company
Accounting for New Technologies Storage Batteries May 2017 Pei Sue Ong, Capital Accounting Advice Manager Pacific Gas and Electric Company 1 Agenda 1. Storage Battery Technologies 2. PG&E Owned Storage
More informationStatistical tables S 0. Money and banking. Capital market. National financial account. Public finance
Statistical tables Money and banking Page S South African Reserve Bank: Liabilities... 2 South African Reserve Bank: Assets... 3 Corporation for Public Deposits: Liabilities... 4 Corporation for Public
More informationStatistical tables S 0. Money and banking. Capital market. National financial account. Public finance
Statistical tables Money and banking Page S South African Reserve Bank: Liabilities... 2 South African Reserve Bank: Assets... 3 Corporation for Public Deposits: Liabilities... 4 Corporation for Public
More informationSTATE OF NEW JERSEY. SENATE, No th LEGISLATURE. Sponsored by: Senator BOB SMITH District 17 (Middlesex and Somerset)
SENATE, No. STATE OF NEW JERSEY th LEGISLATURE INTRODUCED JUNE, 0 Sponsored by: Senator BOB SMITH District (Middlesex and Somerset) SYNOPSIS Revises Franchise Practices Act. CURRENT VERSION OF TEXT As
More informationSenate Bill 1547 Ordered by the House February 29 Including Senate Amendments dated February 12 and House Amendments dated February 29
th OREGON LEGISLATIVE ASSEMBLY--0 Regular Session B-Engrossed Senate Bill Ordered by the House February Including Senate Amendments dated February and House Amendments dated February Sponsored by Senator
More informationSenate Bill 1008 Ordered by the Senate June 26 Including Senate Amendments dated April 24 and June 26
th OREGON LEGISLATIVE ASSEMBLY--0 Regular Session B-Engrossed Senate Bill 00 Ordered by the Senate June Including Senate Amendments dated April and June Sponsored by Senators DEMBROW, TAYLOR, FREDERICK,
More informationbest to you all Gail Carbiener Page 1 of 5
Please accept this attachment as my up dated response to the B2H DEIS. If this is not acceptable, please let me know. Nice meeting last Monday in Boardman. 300316 best to you all Gail Carbiener 2 Page
More informationAn Act respecting Ville de Mont-Saint- Hilaire
FIRST SESSION THIRTY-NINTH LEGISLATURE Bill 212 (Private) An Act respecting Ville de Mont-Saint- Hilaire Introduced 13 May 2009 Passed in principle 18 June 2009 Passed 18 June 2009 Assented to 19 June
More information