The Inland Revenue Board of Malaysia has issued Public Ruling No. 03/2024 - Tax Borne by Employers, which is dated 10 December 2024. Public Ruling No. 03/2024 updates and replaces Public Ruling No. 11/2016 of 8 December 2016. The objective of the Public Ruling is to explain the computation of: perquisite relating to the income tax of an employee that is borne by an employer; and the tax payable by an employee who is entitled to the perquisite. "Perquisite", in relation to employment means benefits in cash or in kind that are convertible into money received by an employee from...