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TaXavvy Issue 20/2022
In this issue:
Gazette Orders for Tax Incentives for Late-Life-Assets Projects
The following gazette orders have been gazetted and are effective from 1 January 2020:
- Petroleum (Income Tax) (Accelerated Capital Allowances) (Late-Life Assets Production Sharing Contract) Rules 2022
- Petroleum (Income Tax) (Exemption) Order 2022
- Petroleum (Income Tax) (Adjusted Loss from Oil or Gas Field Decommissioning Activity) (Late-Life Assets Production Sharing Contract) Regulations 2022
Further Deduction on Costs of COVID-19 Detection Test - Amendment Rules
The Income Tax (Deduction for Expenses in relation to the Cost of Detection Test of Coronavirus Disease 2019 (COVID-19) for Employees) (Amendment) Rules 2022 has been gazetted and is effective from year of assessment 2021.
IRB’s Media Release on Deferment of Payment of Small-Value Withholding Tax
The Inland Revenue Board has issued a media release on 27 September 2022 on the deferment of payment of small-value withholding tax.
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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