EY Tax Alert No. 10/2021

EY has released their latest tax alert. This issue (No. 10/2021) covers:

Malaysian developments

  • Guidelines on application for approval under Section 44(6) of the Income Tax Act 1967 (ITA) in relation to funds established for the construction of school buildings, contributions to schools and acquisition of buildings for religious schools
  • Practice Note No. 1/2021: Tax treatment on deduction of tax as final tax
  • Extension of tax exemption on management fee income for SRI funds
  • Double deduction on expenses incurred to conduct Professional Training and Education for Growing Entrepreneurs (PROTÉGÉ) – Ready to Work (RTW) Programme

Overseas developments

  • India issues thresholds for triggering “significant economic presence” in India
  • China clarifies procedures for processing payments for transfer pricing adjustments

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