Tax treatment

participation in relation to GIFF. 
Tax Incentives 
(continued)
Tax Incentives
Notes
Personal tax 
relief
Tax relief not exceeding RM5,000 per annum is also provided on Islamic 
finance courses approved by Bank Negara Malaysia (BNM)or SC at local 
institutions of higher learning including INCEIF.
I s s u a n c e 
of Islamic 
securities
Tax deduction on expenses incurred on the issuance of Islamic securities 
based on principles of Mudharabah, Musharakah, Ijarah, Istisna’ and other 
Islamic securities approved by SC or Labuan FSA up to YA 2015.
Exemption of 
Stamp Duty
Further extension of stamp duty exemption of 20% on instruments of Islamic 
financing products approved by the SAC of BNM or SC up to 31 December 
2015. 
100% stamp duty exemption up to 31 December 2016 on foreign currency 
instruments executed by International Currency Islamic financial institutions.
Others
• 
Pre-commencement expenses of an Islamic stockbroking company will
be allowed as tax deduction which commences its business within two 
(2) years from the date of approval by the SC. Applications have to be 
received by SC before 31 December 2015.
• 
Special purpose vehicles (SPV) established under the Companies Act 
1965 or Offshore Companies Act 1990 which elects to be taxed under the 
Income Tax Act 1967, solely to channel funds for the purposes of issuance 
of Islamic securities, is not subject to tax or tax administrative procedures, 
subject to approval from SC.
• 
Double deduction on certain expenses
3
incurred for the purpose of 
promoting Malaysia as an International Islamic Financial Centre (MIFC) is 
extended until YA 2015.

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