In this March 2022 Issue of our Newsletter, we will discuss 2021/22 Profits Tax Return updates and the tax treatments of Keyman Insurance Policy.
2. 2021/22 Profits Tax Return Update - New Box 9.6 and Supplementary Form S15 (Carried Interest Tax Concession)
Fund Managers pursuing Tax-free Carried Interest Concession should now fill in Supplementary Form S15 of Profits Tax Return
Taxpayers who would like to enjoy 0% Carried Interest Tax Concession for the year of assessment 2021/22 have to perform the following actions:-
- Tick the Box 9.6 in the Form BIR 51; and
- Complete Supplementary Form S15.
For detailed requirements on Carried Interest Tax Concession, please refer to our January 2021 Newsletter.