Extended tax incentive for women returning to work after a career break
In Budget 2020, it was proposed that the income tax exemption on employment income for women returning to work after a career break be extended by a period of four (4) years (see Special Tax Alert: Highlights of 2020 Budget). To legislate this extension, the (Income Tax (Exemption) (No. 9) Order 2019) (Amendment) Order 2020 was gazetted on 30 January 2020.
The Amendment Order provides that the incentive will now apply to applications received by Talent Corporation Malaysia Berhad (TalentCorp) between 1 January 2019 and 31 December 2023 and the incentive is available from the year of assessment (YA) 2018 to YA 2024.
