The Inland Revenue Board of Malaysia has issued Public Ruling No. 03/2024 - Tax Borne by Employers, which is dated 10 December 2024. Public Ruling No. 03/2024 updates and replaces Public Ruling No. 11/2016 of 8 December 2016. The objective of the Public Ruling is to explain the computation of:
- perquisite relating to the income tax of an employee that is borne by an employer; and
- the tax payable by an employee who is entitled to the perquisite.
"Perquisite", in relation to employment means…