Malaysia has published the Income Tax (Restriction on Deductibility of Interest) Rules 2019 (the Rules) in the Official Gazette, which provides the rules for the restriction on the deductibility of interest introduced as part of the Finance Act 2018. The restriction is provided for in a new section 140c of the Income Tax Act, which includes that in ascertaining adjusted income, no deduction will be allowed in respect of any interest expense in connection with or on any financial assistance in a controlled transaction in excess of the maximum amount of interest as determined under any rules made under the...