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Update on tax deduction for secretarial and tax filing fees
The Income Tax (Deduction for Expenses in relation to Secretarial Fee and Tax Filing Fee) Rules 2020 [P.U.(A) 162/2020] were gazetted on 19 May 2020 and were effective from YA 2020 (see Tax Alert No. 8/2020). The Rules provide a deduction, capped at RM15,000 per YA, to a resident person who has incurred and paid certain secretarial and tax filing fees (as outlined in the Rules) in the basis period for that YA.
Following the above, the Income Tax (Deduction for Expenses in relation to Secretarial Fee and Tax Filing Fee) (Amendment) Rules 2021 [P.U.(A) 471] were gazetted on 24 December 2021. The Amendment Rules stipulate that a deduction, capped at RM15,000 per YA, shall now be given to a resident person who has incurred the secretarial and tax filing fees in the basis period for that YA (i.e., the requirement for the fees to have also been paid has been removed). The Amendment Rules are effective from YA 2022.
Notwithstanding the above, the requirements per P.U.(A) 162/2020 would remain in force for YAs 2020 and 2021.