Review of Tax Deduction on Cost of Listing in Bursa Malaysia
Update: The Ismail Sabri Government Budget is no longer applicable.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 A deduction on expenses made by a technology-based company in connection with listing in the ACE (i.e. Access, Certainty, […]
Tax Deduction for Sponsorship of Smart Artificial Intelligence (AI)-Driven Reverse Vending Machine
Update: The Ismail Sabri Government Budget is no longer applicable.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 In December 2021, the Malaysia Plastic Sustainability Roadmap, 2021–2030 (hereinafter “the Roadmap”) was published in Malaysia. The Roadmap identifies […]
Tax Incentive for Company Renting Non-Commercial Electric Vehicle
Updated on 15 July 2023- Dialogue between MOF， LHDNM， and CTIM [21/6/2023] Update: The Ismail Sabri Government Budget is no longer applicable.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 Companies renting non-commercial motor vehicles, including Electric […]
Revised Special Guidelines: Income Tax Deduction for Community/Charity Projects to curb Covid-19
The announcement that contributions (in cash or in-kind) to overcome the COVID-19 outbreak is allowed for deduction under s 34(6)(h) of the Income Tax Act was made by the Government on March 23, 2020. A guideline was then issued by the Ministry of Finance (MOF) to explain the conditions and procedures in such claims. Further, […]
Review of Tax Incentive for Equity Crowdfunding
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023; for more info, please visit – https://www.ccs-co.com/post/budget-2023-malaysia-madani. This tax incentive included in Budget 2023, tabled in Parliament on 7 October 2022, was not included in Budget 2023 (Re-tabled) on 24 February 2023. Response from […]
Sustainable and Responsible Investment linked (‘SRI-linked’) Sukuk Framework
The Securities Commission of Malaysia (SC) established the Framework for Sustainable and Responsible Investment-Linked Sukuk (the Framework) on June 30, 2022. The Sustainable and Responsible Investment Sukuk framework was first introduced by the Securities Commission Malaysia (SC) in 2014. This was done to facilitate the creation of an ecosystem that promotes sustainable and responsible investing […]
Tax Incentive for Investment in a Bionexus Status Company
Principal Rules – Tax Incentive According to the Income Tax (Deduction for Investment in a BioNexus Status Company) Rules 2016 [P.U.(A) 306/2016]: Amendment Rules On 22 June 2022, 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 Investment […]
Double Tax Deduction for Expenditure in relation to Industry4WRD Vendor Development Program
What Is the 4th Industrial Revolution (4IR)? What exactly is meant by the phrase “the Fourth Industrial Revolution,” and why should you be concerned about it? The convergence of the physical, digital, and biological worlds are referred to as the “Fourth Industrial Revolution,” and it is a term that has been used to describe this […]
Income Tax (Deduction for Investment in a Venture Company or Venture Capital Company) Rules 2022
1. On 15 April 2022, the Minister, in the exercise of the powers conferred by paragraphs 33(1)(d) and 154(1)(b)], gazetted in the Gazette the Income Tax (Deduction for Investment in a Venture Company or Venture Capital Company) Rules 2022 [P.U. (A) 117]. 2. As a result of this Order, a company or an individual will […]
Income Tax (Deduction for Invt. in a Project of Commercialisation of R&D Findings) Rules 2022
1. On 6 January 2022, the Minister, in the exercise of the powers conferred by paragraph 154(1)(b) read together with paragraph 33(1)(d) of the Income Tax Act 1967 [Act 53], gazetted the Income Tax (Deduction for Investment in a Project of Commercialisation of Research and Development Findings) Rules 2022 [P.U. (A) 3] 2. These Rules […]
