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A Public Ruling as provided for under section 138A of the Income Tax Act 1967 is issued for the purpose of providing guidance for the public and officers of the Inland Revenue Board Malaysia.
A ruling is issued for the purpose of providing guidance for the public and officers of the Inland Revenue Board of Malaysia. It sets out the interpretation of the Director General of Inland Revenue in respect of the particular tax law, and the policy and procedure that are to be applied.
Rental Income Received in Advance Where rental income is assessed under S4(d), rent received in advance is charged to tax in the basis period in which it is received, and any expense incurred relating to that income is allowed in the basis period in which the income was assessed. (Example 25)
Public Ruling is issued for the purpose of providing guidance for the public and officers of the Inland Revenue Board. It sets out the interpretation of the Director General of Inland Revenue in respect of the particular tax law, and the policy and procedure that are to be applied.
The deductibility of expenses against the rental income received by a REIT/PTF are as follows: 7.1 Pursuant to subsection 33(1) of the ITA, expenses wholly and exclusively incurred in the production of the rental income are allowable against that rental income.
The objective of this Public Ruling (PR) is to provide an explanation on the time limit for unutilised or unabsorbed adjusted business lossesarising from a business of a person to be carried forward.
Introduction 1. Basis of Assessment of a Real Estate Investment Trust/Property Trust 2. Fund (REIT/PTF) Rental Income of a REIT/PTF – Special Tax Treatment 2. Deductibility of Expenses 6. Capital Allowance and Industrial Building Allowance 7.
A Public Ruling is published as a guide for the public and officers of the Inland Revenue Board of Malaysia. It sets out the interpretation of the Director General in respect of the particular tax law and the policy as well as the procedure applicable to it.
A Public Ruling is published as a guide for the public and officers of the Inland Revenue Board of Malaysia. It sets out the interpretation of the Director General in respect of the
Section 138A of the Income Tax Act 1967 [ITA] provides that the Director General of Inland Revenue is empowered to make a Public Ruling in relation to the application of any provisions of the ITA. A Public Ruling is published as a guide for the public and officers of the Inland Revenue Board of Malaysia.
