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