{"id":1170,"date":"2021-07-26T06:36:46","date_gmt":"2021-07-26T06:36:46","guid":{"rendered":"https:\/\/sfwassociates.com\/sfwnassociatesplt\/?p=1170"},"modified":"2021-07-26T06:37:39","modified_gmt":"2021-07-26T06:37:39","slug":"lhdnm-public-ruling-no-3-2021-special-allowances-for-small-value-assets","status":"publish","type":"post","link":"https:\/\/sfwassociates.com\/sfwnassociatesplt\/index.php\/2021\/07\/26\/lhdnm-public-ruling-no-3-2021-special-allowances-for-small-value-assets\/","title":{"rendered":"LHDNM – PUBLIC RULING NO. 3\/2021 \u2013 SPECIAL ALLOWANCES FOR SMALL VALUE ASSETS"},"content":{"rendered":"

The Inland Revenue Board of Malaysia (LHDNM) has uploaded the <\/a>Public Ruling (PR) No. 3\/2021 \u2013 Special Allowances for Small Value Assets<\/a><\/span> dated 21 July 2021 on its <\/a>website<\/a><\/span>.<\/p>\n

This PR is the 3rd<\/span> edition and replaces the <\/a>PR No. 10\/2014<\/a><\/span> dated 31 December.2014. The updates and amendments are stated on page 18 and 19 of the PR.<\/span><\/p>\n

The objective of this PR is to explain the tax treatment in relation to the special allowances claimed as capital allowance on small value assets.<\/span><\/p>\n

Special allowances at special rates for small value assets have been introduced from the year of assessment (YA) 2006. A person is eligible to claim the special allowance if qualifying plant expenditure (QPE) has been incurred on such assets which are used for the purposes of his business.<\/span><\/p>\n

From YA 2006 to YA 2020, there have been changes in the value of the assets referred to as small value assets. In addition, the limitation in respect of the maximum amount of QPE that can be claimed as special allowances for small value assets in a YA have also been amended. However, such limitations are only applicable for certain companies depending on the paid-up capital of the ordinary shares, the gross income from a business and the indirect or direct shareholding of the relevant company.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The Inland Revenue Board of Malaysia (LHDNM) has uploaded the Public Ruling (PR) No. 3\/2021 \u2013 Special Allowances for Small Value Assets dated 21 July 2021 on its website. This PR is the 3rd edition and replaces the PR No. 10\/2014 dated 31 December.2014. The updates and amendments are stated on page 18 and 19 of the PR. The objective of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[5],"tags":[],"yoast_head":"\n|Audit | Tax | Accounting | Secretarial | Liquidation Services | Firm | Cheras, Puchong and Penang | SFW & Associates PLT Malaysia<\/title>\n<meta name=\"description\" content=\"We are based in Cheras, Puchong and Penang. Our service, including but not limited to audit, tax, accounting, consolidation, liquidation and secretarial services. 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