The Inland Revenue Board of Malaysia (IRBM) has issued Public Ruling (PR) No. 10/2018, which explains the tax incentive offered to an investor who has invested in a BioNexus Status Company (BSC) in Malaysia. The tax incentive granted to an investor is a deduction from its business source to determine the adjusted business income. The deduction allowed in the basis period for a year of assessment (YA) is an amount equal to the actual value of the investment made by the investor in the basis period in a company approved by the Minister of Finance as a BSC. To qualify,...