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