Minutes of Filing Programme Working Group (DESIRE) Meeting No. 1/2010

The minutes of the DESIRE meeting No. 1 of 2010, held on 30 March 2010, have been released. It may be downloaded at the Institute’s website at

Members can also view the information from the website of the Institute at http://www.ctim.org.my/technical_techdev_direct.asp

Public Ruling on Withholding Tax on Section 4(f) Income (PR 01-2010)

Public Ruling No. 1 of 2010 (on withholding tax on Section 4(f) Income), dated 19 April 2010 has been released.  It may be downloaded from the website of IRB at http://www.hasil.gov.my/lhdnv3/documents/maklumat_terkini/KU%2001_2010.pdf.

Members can also view the information from the website of the Institute at http://www.ctim.org.my/technical_techdev_direct.asp

Addendum 4 to Benefits-in-kind (PR 02-2004)

This addendum provides clarification on the determination of Benefits-in-kind in respect of petrol provided free by employers.  The addendum to the Public Ruling can be downloaded from the website of the Inland Revenue Board’s website at http://www.hasil.gov.my/lhdnv3e/documents/maklumat_terkini/Fourth%20Add%20KU%202-2004.pdf . 

Members can also view the information at the Institute’s website at http://www.ctim.org.my/technical_techdev_direct.asp

Income tax relief on interest from housing loan

The Inland Revenue Board (IRB) issued a media release on the matter on 9 April 2010. It essentially states the conditions under which a relief may be claimed in respect of interest on housing loans taken by an individual

The media release can be downloaded at the IRB’s webwite at http://www.hasil.gov.my/lhdnv3/index.jsp?process=4100&newsid=84.  Members can also view the information from the website of the Institute at http://www.ctim.org.my/technical_techdev_direct.asp

Income Tax (Industrial Building Allowance)(Building under Privatisation Project and Private Financing Initiatives) Rules 2010 [P.U.(A) 119/2010]

The Rules stipulate that a building constructed under a privatisation project and private financing initiatives by the Privatization/PFI Committee, Public Private Partnership Unit, Prime Minister’s Department; and pursuant to an agreement entered into between a person and the Government of Malaysia or statutory body on a build-lease-maintain-transfer basis (BLMT Agreement) and for which no consideration has been paid by the Government of Malaysia or statutory body to that person, shall be treated as an industrial building with effect from the year of assessment 2009. 

The initial allowance and annual allowance of the industrial building shall be 10% and 6% respectively.  The balance of residual expenditure shall be reduced by the amount of any compensation received by such person; and the disposal value of the asset shall be taken to be zero when the BLMT agreement expires.