The Inland Revenue Board of Malaysia has issued Public Ruling (PR) No. 7/2018, which updates and replaces PR No. 4/2013 on Accelerated Capital Allowances (ACA). PR No. 7/2018 explains the tax treatment of qualifying plant and machinery for the purpose of claiming ACA, including qualifying expenditure, the income tax rules, steps to claim ACA, rules on the recapture of ACA if asset sold within two years, etc. As compared to PR No. 4/2013, PR No. 7/2018 includes several content adjustments for clarification, while the overall rules and approach are generally unchanged.