CCS

Tax Incentives for Chicken Rearing in Closed House System

Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position RA was extended to the agricultural sector to encourage local food production and thus increase its supply. In Budget […]

Income Tax (Accelerated Capital Allowance) (Excursion Bus) (Amendment) Rules 2022

1. Excursion Bus purchases made between YA 2020 and YA 2021 are eligible for an Accelerated Capital Allowance (ACA) on capital expenses incurred by licensed tour operators. 2. The ACA given by the Income Tax (Accelerated Capital Allowance) (Excursion Bus) Rules 2021 can be claimed within two years, with an initial allowance of 20% and […]

Accelerated Capital Allowance – Tun Razak Exchange Marquee Status Company

1. On 27 December 2021, the Minister, in the exercise of the powers conferred by paragraph 154(1)(b) of the Income Tax Act 1967 [Act 53], gazetted the Income Tax (Accelerated Capital Allowance) (Tun Razak Exchange Marquee Status Company) (Amendment) Rules 2021 [P.U. (A) 474] 2. These Rules are deemed to have effect from 1 January […]

Deduction for Relocation Costs for Tun Razak Exchange Marquee Status Company

1. On 27 December 2021, the Minister, in the exercise of the powers conferred by paragraph 154(1)(b) of the Income Tax Act 1967 [Act 53], gazetted the Income Tax (Deduction for Relocation Costs for Tun Razak Exchange Marquee Status Company) (Amendment) Rules 2021 [P.U. (A) 475] 2. These Rules shall have effect from the year […]

Accelerated Capital Allowance (ACA) for the purchase of Machinery and Equipment

Accelerated capital allowance (ACA) for the purchase of Machinery and Equipment – PDF 1. It was proposed in the 2020 Economic Stimulus Package, announced on February 27, 2020, that accelerated capital allowance (ACA), comprised of a 20% initial allowance and a 40% annual allowance, be given on qualifying capital expenditure on machinery and equipment (including […]

Income Tax (Accelerated Capital Allowance) (Excursion Bus) Rules 2021

1) Licensed tour operators were given the ACA on capital expenses incurred on the purchase of excursion buses. The ACA provided under the Income Tax (Accelerated Capital Allowance) (Excursion Bus) Rules 2021 can be claimed within a period of 2 years with an initial allowance of 20% and an annual allowance of 40%. 2) Budget […]

Deduction for Expenses in relation to the Cost of Personal Protective Equipment

1. Tax deductions for employers on the cost of personal protective equipment (PPE) are offered by the Income Tax (Deduction for Expenses in Relation to the Cost of Personal Protective Equipment) Rules 2021, which are effective from YA 2020 and define personal protective equipment (PPE) as “expenditure incurred by the employer for the purpose of […]