EY Tax Alert No. 18/2021

EY has released its latest tax alert issue No. 18/2021. This issue covers:

Malaysian developments

  • Ministry of Finance issues Pre-Budget Statement and seeks public feedback for Budget 2022
  • Tax incentive for tour operators extended
  • Extension of time for submission of tax returns under the Labuan Business Activity Tax Act 1990 (LBATA) for YA 2021
  • Updated guidelines on tax deduction under Section 34(6)(h) of the ITA for contributions to a charity or community project to tackle the COVID-19 pandemic
  • Frequently Asked Questions on special deduction on rental discounts given to tenants


Overseas developments

  • Thailand: VAT rate to remain at 7% for an additional two years
  • Swiss authorities release statement on application of Most Favored Nation clause in India-Swiss tax treaty

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