Saturday, August 21, 2010

AirAsia gets tax break extension

02 June 2010

AIRASIA Bhd has been granted a further five year extension of an investment allowance, which entitles it to claim an income tax exemption of 60 per cent on qualifying capital expenditure.

This must be incurred between July 1 2010 and June 30 2014.

The amount can be set off against 70 per cent of statutory income for each year of assessment.

The approval is subject to the condition that the capex will exclude any aircraft not based in Malaysia; and should any aircraft be sold or leased within five years.

In such a case, there will be a clawback of the investment allowance used on the aircraft.

Business Times

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