EY Tax Alert No. 1/2021

Law firm EY is pleased to share their latest tax alert issue No. 1/2021.

Malaysian developments:

  • 2021 income tax return filing programme issued
  • Practice Note No. 4/2020: Clarification on Determining the Gross Income from Business Sources of not more than RM50 million of a Company or LLP
  • Incentives for food production projects
  • Tax deduction on costs for renovation and refurbishment of business premises
  • Stamp duty updates
  • Remission of tax and stamp duty
  • Deduction for issuance of SRI sukuk extended to YA 2023
  • Updated guidelines for upstream petroleum industry tax incentive claim

Overseas developments:

  • Japan releases 2021 tax reform outline
  • Myanmar tax authority issues guidance on withholding tax reporting obligations

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