Here’s What You Need to Know About Special Allowances for Small Value Assets

The Inland Revenue Board of Malaysia (IRBM) has issued a new public ruling providing guidance on the 100% special allowance afforded to businesses for capital expenditure incurred on their purchase of small value assets. 

💰Effective from 2020, the qualifying expenditure for small-value assets be increased from RM1,300 to RM2,000.

💰For non-SMEs, the maximum limit of total qualifying expenditure in respect of small-value assets be increased from RM13,000 to RM20,000 for each year.