Direct Taxation

Income Tax (Cost of Renovation and Refurbishment of Business Premise) Rules 2020 [P.U. (A) 381/2020] 

P.U. (A)

Remarks

(Please access the Rules for the full details)

381/2020

Income Tax (Cost of Renovation and Refurbishment of Business Premise) Rules 2020

Deduction allowed

On the costs of renovation and refurbishment of business premise* incurred by a person from 1 March 2020 until 31 December 2021 and used for the purpose of its business.  The total amount of deduction allowed is subject to the maximum amount of RM300,000.

 

*The “costs of renovation and refurbishment of business premise” means the  costs of renovation and refurbishment of business premise incurred for the purposes specified in the First Schedule of the Rules but shall not include the cost for the purposes specified in the Second Schedule of the Rules, which is certified by an external auditor.

 

With effect from

Year of assessment 2020

 

Further details

See rule 4, First Schedule and Second Schedule of the Rules.

 

Related reference

·         Appendix 9 of the Proposed Tax Measures under PENJANA (see our e-CTIM TECH-DT 58/2020 dated 4 August 2020).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Members may read the above Rules in full at the official website of the Attorney-General’s Chambers

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