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Review of Tax Deduction on Cost of Listing in Bursa Malaysia

Updated: Nov 9, 2022

To Download Budget 2023 Speech and some other related publications - https://t.me/YourAuditor/3276

Current Position

A deduction on expenses made by a technology-based company in connection with listing in the ACE (i.e. Access, Certainty, and Efficiency) or LEAP (i.e. Leading Entrepreneur Accelerator Platform) market will be permitted beginning in the year 2020 and continuing through the year 2022.


The Income Tax (Deduction for Expenses in Relation to Listing on Access, Certainty, Efficiency (Ace) Market or Leading Entrepreneur Accelerator Platform (Leap) Market of Bursa Malaysia Securities Berhad) Rules 2020 allow for the deduction to be taken.


The technology-based company must be involved in the design, development, manufacture, production, or application of the fields and activities indicated in the Schedule under the Regulations in order to be eligible for the deduction.


Such activities must be certified by Bursa Malaysia Securities Berhad as the principal business activity of the technology-based company. The technology-based company must apply for listing in ACE or LEAP in order to claim for the deduction of the listing fees.


The technology-based company is required to apply for listing in either ACE or LEAP to be eligible for a deduction of the following listing fees:-

  • payment of fees to Bursa Malaysia Securities Berhad and Securities Commission Malaysia

  • professional fees such as advisory fees, fees to solicitors, company secretaries, tax advisers etc, and

  • underwriting, placement and brokerage fees.

The deduction on the above fees is given up to RM1.5m.

Proposal

To further encourage more technology-based companies and Micro, Small and Medium Enterprises to expand their business by increasing capital funds through listing on BURSA Malaysia, it is proposed the treatment be reviewed as follows:

  1. the existing tax deduction of up to RM1.5 million on the cost of listing on the ACE and LEAP Markets is extended for a period of 3 years; and

  2. this tax deduction is also expanded to cover the cost of listing technology-based companies on BURSA Main Market.

Effective Date

From the year of assessment 2023 until the year of assessment 2025


Schedule - fields and activities






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