The Inland Revenue Board of Malaysia (IRBM) has published updated (amended) technical guidelines on the Tax Treatment on Gains from the Disposal of Foreign Capital Assets Received from Outside Malaysia. The guidelines were originally published on 27 March 2024 (previous coverage). The updated guidelines were published on 26 April 2024, including an amended Example 5 concerning the tax exemption on gains from the disposal of foreign capital assets received in Malaysia from 1 January 2024 until 31 December 2026 if economic substance requirements are met. Amended Example 5 is as follows: Example 5 Tech Innovate Sdn Bhd (TISB), a manufacturing...