Malaysia published the Income Tax (Unit Trust) (Exemption) Order 2024 and the Income Tax (Unit Trust in Relation to Income Received in Malaysia from Outside Malaysia) (Exemption) Order 2024 in the Official Gazette on 20 September 2024. The first order exempts a qualifying unit trust resident in Malaysia from the payment of income tax in respect of any gains or profit received from the disposal of unlisted shares of a company incorporated in Malaysia and from the disposal of shares under section 15c of the Income Tax Act 1967(i.e., shares in a controlled company outside Malaysia). However, the exemption is...