Malaysia extends tax break for corporate investors to 2022

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KUALA LUMPUR: Malaysia has extended the expiry of existing income tax exemption on interest or profit earned from deposits for corporate investors in retail money market funds to Jan. 1,2022, according to a letter sighted by Bloomberg.

A Securities Commission of Malaysia‘s spokesperson confirms the letter to Bloomberg via an email on Monday

The letter was issued by the regulator to the Federation of Investment Managers Malaysia.

Federation of Investment Managers Malaysia is not immediately available to comment due to public holiday in Malaysia.

The deferment would allow the industry to have “sufficient time to ensure its readiness for the expiry of the income tax exemption and the operationalisation of the tax mechanism to tax corporate unit holders at the fund level by 1 January 2022”, according to the letter.

The tax exemption is due to expire this month. – Bloomberg



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