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Following the tabling of the 2021 Budget, we are pleased to provide the highlights of the Finance Bill 2020 covering proposed amendments to the following Acts

  •  Income Tax Act 1967
  •  Labuan Business Activity Tax Act 1990
  •  Real Property Gains Tax Act 1976
  •  Stamp Act 1949
  •  Petroleum (Income Tax) Act 1967

Our highlights are intended to provide a general overview of the key proposed tax changes covering direct taxes, real property gains tax as well as stamp duty.  It should not be used or relied upon as a substitute for detailed advice or as a basis for formulating business decisions.

The Finance Bill 2020 Highlights and relevant reading materials can be accessed via the above link.

Should you have any questions or require further clarification, please do not hesitate to email or contact any of our Executive Directors, Directors, Associate Directors or Managers whom you are accustomed to dealing with or who are responsible for the tax affairs of your organisation.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

Tai Lai Kok
Executive Director & Head of Tax