EY Tax Alert No. 9/2020

EY is pleased to share the latest tax alert issue no. 9/2020.

Malaysian developments

• Pure equity holding Labuan entity exempted from minimum employee number requirement
• Automation Capital Allowance incentives extended
• Practice Note No. 3/2020: Clarification on Determining the Gross Income from Business Sources of not more than RM50 million, for a Company or Limited Liability Partnership
• Public Ruling No. 1/2020 – Tax Incentives for BioNexus Status Companies
• Public Rulings No. 2/2020 and 3/2020 – Tax Treatment of Stock in Trade

Overseas developments

• India Tax Administration extends applicability of transfer pricing safe harbor rules to financial year 2019-20
• Spain sends Mandatory Disclosure Rules Bill to Parliament for approval