The Inland Revenue Board of Malaysia (IRBM) has recently issued the draft Income Tax (Advance Ruling) Rules 2007 which includes details on the scope, procedures and fees pertaining to the application of an advanced ruling. On application by the taxpayer, the Director General of the IRBM shall make advanced rulings on how a particular provision of the Income Tax Act, 1967 (ITA) applies to a person or arrangement. Applications for advanced rulings shall be made in the prescribed form and shall include the identity of the applicant, complete description of all relevant facts and documents relating to the arrangement for...