The Malaysian parliament has passed the Income Tax (Amendment) Bill 2024 and the Labuan Business Activity Tax (Amendment) Bill 2024, which were approved by the House of Representatives on 26 March 2024 and by the Senate on 3 April 2024. The main measures of the Income Tax (Amendment) Bill 2024 are meant to clarify the new rules introduced from 1 January 2024 for the taxation of capital gains on the disposal of capital assets. This includes the amendment of the definition of "capital asset", which means: movable or immovable property situated outside Malaysia including any rights or interests thereof; or...