To increase the competitiveness of local businesses, the government is also considering reducing the period allowed to claim allowances for the purchase of ICT equipment from the previous four years to only three years starting from assessment year 2024.
This is seen as including for the purchase of company computers, various other ICT equipment such as printers, server machines and also computer software which includes such as software subscriptions such as Google Cloud, Adobe Creative Suite, and so on.
Datuk Seri Anwar Ibrahim announced that the reduction of the allowance claim period will start in the assessment year 2024.
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