Welcome to Grant Thornton Malaysia Tax Alert. This newsletter provides information on the latest tax updates.
The Inland Revenue Board (“IRB”) has recently released Public Ruling 1/2016: Agriculture Allowances (“PR 1/2016”) dated 20 January 2016.
PR 1/2016 explains the:
- Types of expenditure that qualify as agriculture expenditure;
- Computation of Agriculture Allowances (AA);
- Computation of Agriculture Charges (AC); and
- Tax treatment on receipt of a grant or subsidy.