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Public Ruling No. 7/2022: Venture Capital Tax Incentives

Updated: Feb 23

On 23 December 2022, the IRB released PR No. 7/2022 on Venture Capital Tax Incentives, which replaces the previously issued PR No. 2/2016 from 9 May 2016.

The new 17-page PR contains the following contents and includes six examples:-

  1. Objective

  2. Related provisions of the law

  3. Interpretation

  4. Venture capital industry in Malaysia

  5. Regulatory framework for the venture capital industry

  6. Tax exemption incentive for a venture capital company (VCC) investing in a venture company (VC)

  7. Tax deduction incentive for an individual or a company investing in a VC or VCC

  8. Mutually exclusive

  9. Tax incentive for a venture capital management company (VCMC)

  10. Application for certification of investment for tax exemption and tax deduction in a VC and VCC

  11. Updates and amendments

  12. Disclaimer