20 September 2021
The following Rules have been gazetted on 8 September 2021:
(i) Income Tax (Special Deduction for Reduction of Rental to a Small and Medium Enterprise) Rules 2021 — deemed to have effect from year of assessment 2020; and
(ii) Income Tax (Special Deduction for Reduction of Rental to a Tenant other than a Small and Medium Enterprise) Rules 2021 — deemed to have effect from year of assessment 2021.
A practice note on Explanation Relating to Expenditure or Additional Expenses for the purpose of Deduction Allowed in the Income Tax (Deduction for Expenditure on Issuance of Sukuk and Retail Sukuk Structured pursuant to the Principle of Wakalah) Rules 2021 [P.U.(A) 5/2021] (Practice Note No. 2/2021) has recently been published on 3 September 2021 on the Inland Revenue Board of Malaysia’s official website.
For further information, please contact:
Anand Raj, Head of Tax and Revenue Practice Group,
Shearn Delamore & Co
anand@shearndelamore.com
