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

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