The Inland Revenue Board of Malaysia has issued Public Ruling No. 1/2022 on the time limit for carrying forward unabsorbed adjusted business losses. A key point of the Public Ruling concerns the limit of the carry forward of unabsorbed losses to 7 consecutive years of assessment from the year of assessment 2019 and the increase of the limit to 10 consecutive years of assessment as part of the 2022 budget measures. In regard to the limit, it is clarified that the increase to 10 consecutive years of assessment applies from the year of assessment 2019, including for unabsorbed losses up...