235/2023

Income Tax (Deduction for Expenses in relation to Listing on Main Market, ACE Market or LEAP Market of Bursa Malaysia Securities Berhad) Rules 2023

(Gazetted on 7 August 2023)

1.  The Rules have effect from the year of assessment (YA) 2023 until YA
   2025.
2. In ascertaining the adjusted income of a technology-based company from its business, a deduction shall be allowed for the expenditures listed in Rule 4(1)(a), (b) and (c) incurred by the technology-based company in relation to listing on the Main Market, ACE Market or LEAPMarket.
3. The deduction allowed in item 2 above:
   · Shall only be caimed in the YA when the technology-based company is listed on the Main Market, ACE Market or LEAP Market.
   · Shall not exceed RM1.5 million.
   · Shall not exceed the adjusted income of the technology-based company and such adjusted income shall be ascertained before such deduction. The expenditure referred to in item 2 above that isin excess of the adjusted income shall not be allowed for deductiorin any subsequent YA.
4. 'ACE Market', 'LEAP Market' and 'Main Market' are defined in Rule 2 and 'technology-based company' is explained in Rule 3.