Regulatory AlertsDocuments to be Submitted for Certification of Islamic Fund Management in Respect of Tax Exemption for the Islamic Fund Management Industry
The Securities Commission Malaysia requires fund management companies to submit a specific application form, supporting documents, and a signed declaration to obtain tax exemption certification for their Islamic fund management industry operations. Applicants must declare compliance with the Income Tax (Exemption) Orders of 2021 and 2024, confirm adherence to Shariah principles, and demonstrate that they incur at least RM250,000 in annual operating expenditure with two full-time employees in Malaysia. The document further stipulates that tax exemptions for Islamic funds and Shariah-compliant Sustainable and Responsible Investment funds are mutually exclusive, permitting only one application per fund per financial year.
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