Commencement of Business & Pre-Operational Expenditure
Commencement of Business & Business Expenditure 1.Introduction Commencement of business is a critical concept in Malaysian tax. It determines when expenses become deductible and how companies should treat pre-operational costs. 2.Commencement of Business & Business Expenditure Pre-commencement expenses are generally not deductible. Qualifying Capital Expenditure (QCE) may be eligible for capital allowances once the business […]
Malaysia Business Income Tax: Advance Payments Explained
Malaysia Business Income Tax: Advance Payments Explained 1. Introduction When it comes to business income recognition in Malaysia, one key area involves the treatment of debts arising from services rendered or property use. This is governed under Section 24(1A) of the Income Tax Act 1967 (“ITA 1967”). The law has evolved over time, especially after […]
Malaysia Income Tax: Section 44 Donations and Deduction Limits
Malaysia Income Tax: Section 44 Donations and Deduction Limits 1.Introduction Malaysia Income Tax Section 44 provides deductions for donations and contributions made to the government, approved institutions, and specific organisations. The eligibility, limits, and forms of donation (cash or in kind) vary depending on the recipient. Understanding these rules helps taxpayers maximise tax benefits while […]
