MCST Tax Review & Appeal

Pursuant to Section 11(1) of the Income Tax Act, rental, TOL. Radio Base License & interest income earned from Non-SP is subject to tax. However, certain income is exempted such as self-managed car park. There is also a compliance of 50 rule may require tax planning in particularly for big shopping centre.

Having been auditors and tax agent for MCSTs for more than 25years, it has come to our attention that most of the MCs which are subject to tax under Section 11(1) failed to establish a fair and equitable basis to claim deductible expenses. As a result, excessive tax has been over paid in the past years.

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