||Effective on or before 1 July 2019, a person granted financial assistance, > RM500,000 in a controlled transaction include associated person outside Malaysia, associated person outside Malaysia with PE in M’sia and 3rd party outside Malaysia within the same Group globally.
- Specified banks, insurers, reinsurers, takaful and retakaful operators, development financial institutions
- Construction contractor as defined
- Property developer as defined
- Person granted exemption
- Special Purpose Vehicles
|Maximum amount of interest to be deducted
||Interest expenses restricted to an amount equal to 20% of the tax-EBITDA deducted against adjusted income.
Balance of unutilized amount can be carried forward for the subsequent YA subjecting to conditions.
||Financial Assistant refers to any type of monetary help or aid that a person received. E.g. loan, interest-bearing trade credit, advance, debts, etc.
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