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TaXavvy Issue 04/2023
In this issue:
Guideline for Application for Research & Development Status and Tax Incentive for Research & Development Services
The Malaysian Investment Development Authority has recently issued the Guideline for Application by Contract Research and Development (R&D) Companies or R&D Companies for:
I. R&D Status Company; or
II. Tax Incentive for R&D Services
under the Promotion of Investments Act 1986.
Extension of Tax Relief for Net Deposits placed into Skim Simpanan Pendidikan Nasional (SSPN) account
The tax relief of up to RM8,000 in respect of the net amount deposited into SSPN by an individual taxpayer for his/her child has been proposed to be extended until Year of Assessment 2024.
Extension of Time for Filing of Labuan Tax Returns
The deadline for submission of tax return forms under the Labuan Business Activity Tax Act 1990 is extended to 31 July 2023.
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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