The Inland Revenue Board of Malaysia (IRBM) recently published Public Ruling No. 5/2024 of 27 December 2024 on the tax incentive for investments in BioNexus status companies (BSC). The public ruling updates and replaces Public Ruling No. 2/2023 of 4 October 2023 to reflect amendments made by the Income Tax (Deduction for Investment in a BioNexus Status Company) Rules (Amendment) 2024, which ex…