On 16 May 2016, the Inland Revenue Board of Malaysia published Public Ruling No. 3/2016 on the tax treatment of interest income received by a person carrying on a business, including a company, a body of persons, a limited liability partnership and a corporation sole. Sources of Interest Income The ruling sets out the sources of interest income, which include: Financial Deposit Product, including fixed deposit and savings accounts; Negotiable Instruments of Deposit; Repurchase Agreements; Debentures, mortgages and loans; and Gains or profits from savings accounts and investments with Islamic banks, which are treated as interest for tax purposes. Tax...