Tax Deduction on Expenses incurred for Covid-19 Testing

Tax Deduction on Expenses incurred for Covid-19 Testing

Tax Deduction on Expenses incurred for Covid-19 Testing

Taxpayers especially employers commonly asked questions in 2021 : Any tax deduction on expenses incurred for Covid 19 testing?

Finally, a new ruling is out on 11 October 2021 under the Income Tax (Deduction for Expenses in relation to the Cost of Detection Test of Coronavirus Disease 2019 (COVID-19) for Employees) Rules 2021.

Key summaries

Special deduction

A double deduction shall be allowed for the expenses incurred by that employer in respect of the cost of detection test on its employees within the period from 1 January 2021 until 31 December 2021.

Term & condition

An employer claiming for deduction shall produce receipt and certification issued by a medical practitioner.

KTP/THK key takeaways

IRB can foresee Covid 19 will be gone by 2021 as the ruling allow tax deduction until 31/12/21.

Anyway, it is a welcomed move to alleviate employers during this pandemic

Visit Us

  • Wisma KTP, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma THK, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 
 
taxKtp KtpTax deduction, Covid 19 test