Baker TIlly Tax Bulletin_27 Apr 2020 Rental Reduction for Business Premises

Further to the announcement under the PRIHATIN Plus Economic Stimulus Package on 6 April 2020, the Inland Revenue Board (IRB) has issued the Frequently Asked Questions (FAQ) <click here> to provide further clarifications with respect to the special deduction available to landlords.

Below are the key features of the FAQ:-

Further Deduction for Minimum Wages

Budget 2014: Difference between the original salary and the minimum wages paid by employer's of SMEs, cooperatives, associations and organisations from 1 Jan 2014 to 31 Dec 2014 be given further deductions.