On 22 August 2016, the Inland Revenue Board of Malaysia issued Public Ruling (PR) No. 6/2016 to explain the tax treatment of group relief for companies in Malaysia. According to PR No. 6/2016, Malaysian group companies generally may surrender up to 70% of their adjusted loss for a basis period for a year of assessment to one or more related companies within the same group, subject to certain conditions. For group relief to be available, the claimant company must have a defined aggregate income for the year of assessment, and both the surrendering and claimant companies must meet the following...