BEPS Action Plan
Malaysia in principal has committed to implement and adhere to the Base Erosion and Profit Shifting (BEPS) Action Plan, under Organization of Economic Cooperation and Development. The implementation of BEPS Action Plan will affect the current BioNexus Status Framework and tax incentives legislation for the IP and non-IP regimes. The reflected legislations are expected to be gazetted by 31 December 2018.
For more information, please refer to : http://www.treasury.gov.my/index.php/en/tax/malaysia-s-commitment-in-international-tax-standard.html, the latest announcement by the Ministry of Finance related to the implementation of BEPS Action Plan.