Depreciation Method for Malaysia Tax Book
I have a requirement for Malaysia Local tax book which is described below -
1. The asset is allowed an additional depreciation (Initial Allowance) of 20% in the first year the asset is place into service and an annual depreciation of 14%. Year 1 depreciation is the sum of the initial allowance and annual allowance percentages. For the remaining years, the annual allowance percentage is taken each year until the asset is fully depreciated to zero. Below is a small example of how initial and annual allowance are considered.
Is there any selected depreciation method provided by oracle for this or which custom method should I create to make this requirement work.