IRB Technical Guidelines for Income Tax Treatment of Malaysian Financial Reporting Standards (MFRS)

We are pleased to inform that the Inland Revenue Board (IRB) has issued guidelines for income tax treatment of the following MFRS(s) all dated 4 June 2013:

(1) MFRS 5: Non-Current Assets Held for Sale and Discontinued Operations;

(2) MFRS 123: Borrowing Cost; and

(3) MFRS 140: Investment Property

We would be pleased if you could let us have your feedback and/or any concern in writing to technical@ctim.org.my as soon as possible, so that we may raise it to the IRB accordingly.

Members may view the guidelines at the IRB website.