The Inland Revenue Board of Malaysia (IRBM) has published Public Ruling No. 4/2023, which provides guidance on the investment tax allowance that is available to companies participating or intending to participate in a business in relation to promoted activities or the production of promoted products in Malaysia. Some of the key points of the Public Ruling are summarized as follows: The investment tax allowance is an allowance granted based on the qualifying expenditure incurred for the purpose of a promoted activity or promoted product; Before a claim for an investment tax allowance can be made by a company for the...