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Statements of Practice

 

Income Tax


TitleDate IssuedReferenceRemarks
Taxation of gains from sale of shares or other securities 30-Oct-06 Practice Note Reviewed on 18 January 2016
Due date Submission of return / APS 30-Nov-07  
Claim for Foreign Tax Credit 02-Jun-09 SP 02/09  
Implementation of CSR 30-Mar-10 SP 04/10  
Tax treatment of dividend on redeemable preference shares 27-Apr-10 SP 06/10  
Computation of Environment Protection Fee 29-Apr-10 SP 07/10 Reviewed on 18 January 2016
Computation of CSR Fund 27-Dec-11 SP 8/11  
Claims for Bad Debts 16-Dec-09 SP 09/11 Reviewed on 18 January 2016
Claims for Bad Debts 27-Dec-11 SP 03/09
Taxation of Foreign Exchange Differences 27-Dec-12 SP 10/12  
Update on CSR 27-Dec-12  
Interest Relief on Housing Loan 28-Apr-15 SP 11/15  
Imposition of Assessing Penalty 18-Jan-16 SP 13/16  
Statement for purchases of goods and services (Section 123B of the Income Tax Act) 21-Jun-16 SP 14/16  
Statement of Practice - Passage Benefits 29-Dec-16 SP 15/16  

 

VAT


TitleDate IssuedReferenceRemarks
VAT on Islamic Finance Transactions (Murabaha) 13-Apr-10 SP 05/10  

VAT treatment on electricity and water to occupiers of large commercial /residential buildings

08-Nov-13 VAT/SP 1/13 Reviewed on 18 January 2016
Determination of taxable value of jewellery manufactured from old jewellery provided by clients 10-Apr-14 VAT/SP 2/14 Reviewed on 18 January 2016
VAT treatment of input tax in respect of immoveable property (Section 21(7) and 7A of the VAT Act 03-Jul-14

VAT/SP 3/14