EY Tax Alert No. 14/2021

EY has released its latest tax alert issue, No. 14/2021. This issue covers:

Malaysian developments

Guidelines on incentive for intellectual property (IP) development
Updated guidelines on dispute resolution proceeding (DRP)
Updated FAQs on the Deferment of Payment of Estimated Tax Payable (CP204) and Instalment Scheme (CP500) from 1 April 2021 to 31 December 2021
Extension of tax exemption for management fee income for Shariah-compliant funds
Updated guidelines on the application for a tax clearance letter (TCL) for a company, limited liability partnership (LLP) and Labuan entities
Accelerated capital allowance (ACA) for the purchase of new locally assembled excursion buses
Updated FAQs on Tax Matters during the National Recovery Plan period

Overseas developments

Australian Taxation Office issues draft tax ruling expanding scope of royalty withholding tax on software-related payments
China announces new Stamp Duty Law