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TaXavvy Issue 19/2019
In this issue:
Operational Guidelines GPHDN 2/2019 - Application for Tax Clearance Letter
The Inland Revenue Board (IRB) has issued the operational guidelines GPHDN 2/2019 - Application for tax clearance letter for company, Limited Liability Partnership (LLP) and Labuan entity (“GPHDN 2/2019”), dated 12 November 2019. GPHDN 2/2019 replaces GPHDN 3/2016 - Application for tax clearance letter for company, LLP and Labuan entity dated 31 July 2016 (“GPHDN 3/2016”).
GPHDN 2/2019 is essentially similar to GPHDN 3/2016 but updated to incorporate the information or documentation required under the Companies Act 2016 for purposes of application for a tax clearance letter.
Public Ruling 5/2019 - Perquisites from employment
Public Ruling 5/2019 - Perquisites from employment (“PR 5/2019”) replaces the earlier Public Ruling 2/2013 on the same topic. The changes made in PR 5/2019 are essentially to bring the public ruling up to date with current legislation.
Public Ruling 6/2019 - Tax Treatment on Expenditure for Repairs and Renewals of Assets
Public Ruling 6/2019 - Tax Treatment on Expenditure for Repairs and Renewals of Assets outlines the tax treatment of expenditure incurred on the various types of repairs undertaken in the course of a taxpayer’s business.
Public Ruling 7/2019 - Taxation of Foreign Fund Management Company
Public Ruling 7/2019 - Taxation of Foreign Fund Management Company (“PR 7/2019”) supersedes Public Ruling 6/2014 - Taxation of Foreign Fund Management Company (“PR 6/2014”).
PR 7/2019 essentially updates PR 6/2014 to incorporate changes to the legislation since PR 6/2014 was issued.
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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For earlier issues of TaXavvy, click here.
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