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TaXavvy Issue 26/2023

In this issue:

New Public Rulings

The following public rulings have been issued by the Inland Revenue Board:

  • Public Ruling 3/2023 - Taxation of Resident Individual Part III - Computation of Income Tax and Tax Payable

  • Public Ruling 4/2023 - Investment Tax Allowance - Overview

  • Public Ruling 5/2023 - Tax Incentive for Approved Food Production Project

  • Public Ruling 6/2023 - Taxation of a Resident Individual Part I - Gifts or Contributions and Allowable Deductions

  • Public Ruling 7/2023 - Taxation of Upstream Petroleum Part I

Extension of East Coast Economic Region Incentives

The following amendment orders in relation to ECER incentives have been gazetted:

  • Income Tax (Exemption) (No. 4) 2016 (Amendment) Order 2023

  • Income Tax (Exemption) (No. 5) 2016 (Amendment) Order 2023

  • Income Tax (Exemption) (No. 6) 2016 (Amendment) Order 2023

  • Income Tax (Exemption) (No. 7) 2016 (Amendment) Order 2023

  • Income Tax (Exemption) (No. 8) 2016 (Amendment) Order 2023

  • Income Tax (Exemption) (No. 9) 2016 (Amendment) Order 2023

  • Income Tax (Deduction for the Sponsorship of Hallmark Event) (Amendment) Rules 2023

  • Income Tax (Deduction for Investment in Qualifying Activity) (Amendment) Rules 2023

  • Stamp Duty (Exemption) (No. 2) 2016 (Amendment) Order 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.

 

Download (PDF) TaXavvy Issue 26/2023

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