The Inland Revenue Board of Malaysia (IRBM) concluded a brief consultation on 10 September 2024 on a draft public ruling on the tax incentive for investments in BioNexus status companies (BSC). The draft public ruling updates and replaces Public Ruling No. 2/2023 of 4 October 2023 to reflect amendments made by the Income Tax (Deduction for Investment in a BioNexus Status Company) Rules (Amendment) 2024, which extended the application of the investment incentive until 31 December 2024.
Cons…