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TaXavvy Issue 14/2019
In this issue:
Income Tax (Capital Allowance) (Development Cost for Customised Computer Software) Rules 2019 (“CA on Customised Software Rules”)
Pursuant to the 2018 Budget proposal, the CA on Customised Software Rules has been gazetted to grant capital allowance (CA) on development cost for customised computer software. The Software Rules is available on the Attorney General Chamber’s website.
Public Ruling 4/2019 - Tax treatment of wholly & partly irrecoverable debts and debt recoveries
The IRB has issued Public Ruling 4/2019 - Tax Treatment of Wholly & Partly Irrecoverable Debts and Debt Recoveries (“PR 4/2019”) on 24 September 2019. PR 4/2019 replaces Public Ruling 1/2002 - Deduction for Bad & Doubtful Debts and Treatment of Recoveries.
TaXavvy is a newsletter issued by PricewaterhouseCoopers Taxation Services Sdn Bhd. While every care has been taken in compiling this newsletter, we make no representations or warranty (expressed or implied) about the accuracy, suitability, reliability or completeness of the information for any purpose. PricewaterhouseCoopers Taxation Services Sdn Bhd, its employees and agents accept no liability, and disclaim all responsibility, for the consequences of anyone acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. Recipients should not act upon it without seeking specific professional advice tailored to your circumstances, requirements or needs.
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