Malaysia published the Income Tax (Accelerated Capital Allowance) (Information and Communication Technology Equipment) Rules 2024 and the Income Tax (Capital Allowance) (Development Cost for Customised Computer Software) Rules 2024 in the Official gazette on 30 October 2024. The rules provide for the implementation of the increased initial capital allowance announced as part of the 2024 Budget for: Capital expenditure incurred in relation to the purchase of information and communication technology (ICT) equipment and computer software packages; and Development costs incurred for customized computer software, including consultation, licensing, and incidental fees related to the customized computer software development. Under the rules,...