Malaysia Public Ruling on Special Deductions for R&D Activity

The Inland Revenue Board of Malaysia (IRBM) has published Public Ruling No. 10/2021 of 29 December 2021, which provides updated guidance on the special deductions for R&D activity, replacing Public Ruling No. 6/2020 of 13 August 2020. Change in the latest update include the following:

• In relation to the double deduction under Section 34B of the ITA, it is added that any cash contribution or payment for the use of the services which is capital in nature will not qualify for the double de…