EY Tax Alert No. 20/2021

EY has released its latest tax alert issue No. 20/2021. This issue covers:

Malaysian developments

  • Guidelines for Principal Hub (PH) incentive 3.0
  • Guidelines for Global Trading Centre (GTC) incentive
  • Guidelines on tax incentive for manufacturers of pharmaceutical products
  • Tax incentive for the electrical and electronics (E&E) sector
  • Updated guidelines on application for approval under Section 34(6)(h) of the ITA
  • Updated Frequently Asked Questions on special deduction on rental discounts given to tenants
  • Audit framework for employers
  • Public Ruling No. 5/2021 – Taxation of a Resident Individual Part I – Gifts or Contributions and Allowable Deductions

Overseas developments

  • Poland plans to introduce tax on shifted profits
  • Singapore expands transfer pricing guidance

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