EY Tax Alert No. 13/2021

EY has released its latest tax alert issue No. 13/2021. This issue covers:

Malaysian developments

Accelerated capital allowance (ACA) for the purchase of machinery and equipment
Tax deduction on cost of personal protective equipment (PPE)
Updates to IRB’s FAQs on Tax Matters during the Movement Control Order (MCO) 3.0

Overseas developments

Hong Kong enacts legislation to allow a tax deduction for foreign taxes charged on gross income basis
Chilean tax authorities are evaluating foreign service providers’ compliance with recently enacted VAT on digital services