10.6.5 OTHER DEDUCTION [SECTION 33(1)(d)] cont (10.6.5.15 INCOME TAX…
10.6.5 OTHER DEDUCTION [SECTION 33(1)(d)] cont
10.6.5.15 INCOME TAX (DEDUCTION FOR PROMOTION OF EXPORTS) RULES
• Can claim a deduction for expenses incurred in respects of participation in a “virtual trade show”, participation in trade portal” and the costs of maintaining warehouses overseas.
• Can claim a deduction for expenses in respect of registration of patents, trademarks and product licensing overseas.
• Allow a deduction for certain business expenses incurred primarily for the promotion of exports and on potential importers invited to Malaysia.
• The expenditure that qualifies for deduction is as follows:
• Hotel accommodation up to a maximum of three nights ,the expenditure per day <RM 300.
• Sustenance up to a maximum of three nights with a maximum of RM 150 per day.
• In order to qualify for the above deductions, the company must satisfy the following conditions :
• Potential importers are invited to Malaysia as a follows up to trade and investment missions .
• Must be proof of participation to be verified by the Malaysian External Trade Development Corporation (MATRADE) in the period preceding 12 months from the date of the potential importer’s visit to Malaysia.
10.6.5.16 INCOME TAX (DEDUCTION FOR THE COST OF DEVELOPING WEBSITE) RULES 2003) [PU (A) 101]
• A person who is resident of Malaysia and who has incurred expenditure in developing a website for the basis period for year of assessment 2002 can claim 20% of the cost for year of assessment 2002 and for subsequent years
10.6.5.17 INCOME TAX (DEDUCTION FOR PROMOTION OF EXPORT OF PROFESSIONAL SERVICES) RULES 2003
Every person who is resident in Malaysia is eligible for this double deduction provided they carry on the following qualifying services:
10.6.5.18 INCOME TAX(DEDUCTION FOR EXPENDITURE ON REGISTRATION OF PATENT AND TRADE MARK)
A deduction is given for qualifying expenditure incurred by the qualifying person.
The expenses include cost of applying for the registration of the trademark(or grant of the patent).
Obtaining the certificate and service fees paid to a relevant agent concerned and authorized to undertake the registration.
10.6.5.19 INCOME TAX (DEDUCTION FOR PARTICIPATION IN AN APPROVED CAREER FAIR) RULES 2012
The Rules stipulated by a person resident in Malaysia.
Primarily for the purpose of participating in approved career fair held outside Malaysia, shall be allowed a deduction.
The claimant shall produce a letter from Talent Corporation Malaysia Berhad confirming that the career fair.
The deduction shall not be applicable where the outgoing, expenses or others payments.
10.6.5.20 INCOME TAX (DEDUCTION FOR PROMOTION OF INTERNATIONAL OR PRIVATE SCHOOL) RULES 2012
These Rules shall apply to an international or private school.
Shall be allowed a deduction in arriving adjusted Income.
The deduction allowable should be in addition to any deduction under sec 33.
The total amount shall not exceed RM100,000 for each year assessment.
The Rules shall not be applicable
10.6.5.21 INCOME TAX (DEDUCTION FOR EXPENDITURE TO OBTAIN THE 1-INNOCERT CERTIFICATION) RULES 2012
•Provide a tax deduction on expenditure incurred