{{item.videoDuration}}
{{item.title}}
{{item.text}}
{{item.videoDuration}}
{{item.text}}
TaXavvy Issue 2/2022
In this issue:
Practice Note 1/2022 - Explanation in Relation to the Definition of Factory for Reinvestment Allowance (RA) Claims
The IRB has issued its Practice Note 1/2022 - Explanation in relation to the definition of factory for the purposes of RA claim under Schedule 7A of the Income Tax Act 1967.
MIDA’s Media Release on Amendments to the Definition of “Contract Research and Development (R&D) Company” and “R&D Company”
MIDA has issued a media release on amendments to the definition of “Contract R&D Company” and “R&D Company” in the Promotion of Investments Act 1986 including application for approval as an R&D Company.
Revision of Estimate of Tax Payable in the 11th Month of the Basis Period (11th month)
The IRB has recently updated the following with respect to the revision in the 11th month:
FAQ on the revision of estimate of tax payable in the 11th month for the years of assessment (YAs) 2021 and 2022 and the deferment of tax instalment payments for micro, small and medium enterprises; and
Application form for the revision of the estimate of tax payable in the 11th month.
Earning Stripping Rules - Amendment
The Income Tax (Restriction on Deductibility of Interest) (Amendment) Rules 2022 (“Amendment Rules”) has been gazetted to amend the Income Tax (Restriction on Deductibility of Interest) Rules 2019.
Guidelines on Prescribed Labuan Business Activities for Non-Licensed Trading Entities
The Labuan FSA has issued the Guidelines on Prescribed Labuan Business Activities for Non-Licensed Trading Entities in Labuan International Business and Financial Centre.
Accelerated Capital Allowance for Excursion Buses
The Income Tax (Accelerated Capital Allowance) (Excursion Bus) (Amendment) Rules 2022 (the “Amendment Rules”) has been gazetted. The Amendment Rules is effective from YA 2022.
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.
{{filterContent.facetedTitle}}
{{contentList.loadingText}}
{{contentList.loadingText}}
Receive regular tax updates in your inbox
Subscribe to Tax in Motion
Contact us
Follow us
