TaXavvy Budget 2019 Edition (Part III)

In this issue:

  • 7-year time limit - Does not apply to carry forward of capital allowances and investment tax allowances
  • Scope of special classes of income under Section 4A(ii) - Amendment and alignment of other sections
  • Labuan IBFC - Amendment to disallowance of tax deduction for payments made to Labuan Entities
  • Reinsurance business - To be treated as a separate general business
  • Wholesale money market fund - No longer qualify for exemption on interest income
  • Acquisition price of real property acquired prior to 1 January 2000 - Reset of acquisition price to market value as at 1 January 2000
  • Acquisition price of recipients of real properties by way of gift - No longer entitled to adopt market value on date of gift as deemed acquisition price even if real property is received after 5 years from donor's acquisition date.

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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