On 31 December 2014, the Inland Revenue Board of Malaysia on issued Public Ruling 10/2014 which provides clarification of the tax rules for special allowances for small-value assets for the 2015 year of assessment. Key aspects of the ruling are summarized as follows: Small-value assets for the purpose of the special allowances includes plant or machinery used for the purpose of a person's business with an acquisition cost not exceeding MYR 1,300 (increased from MYR 1,000), but excludes assets with an expected life span of two years or less The acquisition cost of qualifying small-value assets may be written off...