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.