Following the tabling of the 2022 Budget, the Finance Bill was released on 9 November 2021 incorporating a number of announcements made in the Budget as well as some other notable additions. The Finance Bill 2021 contains 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
- Promotion of Investments Act 1986
- Finance Act 2012
- Finance Act 2018
Our Finance Bill 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 2021 Highlights and relevant reading materials can be accessed via the above links.