The Inland Revenue Board of Malaysia (IRBM) has issued Public Ruling (PR) No. 8/2018, which explains the tax treatment in respect of tax incentives for a BioNexus status company in Malaysia. BioNexus status is a special status awarded to qualified international and domestic biotechnology companies undertaking value-added biotechnology or life sciences activities. Companies that have been awarded BioNexus status are eligible for certain benefits, including tax incentives. This includes a tax exemption on statutory income in relation to: A new business, for a period of ten consecutive years of assessment, in respect of the statutory income commencing from the first...