Regina Lau, KPMG Tax Services Sdn Bhd executive director

“Companies with unabsorbed tax losses, unutilised capital allowances and allowances under various tax incentives will however be greatly impacted by a new measure announced in the Budget. While such balances can be carried forward indefinitely under current legislation, the period will now be restricted to seven consecutive years. Hence, any balances still remaining after the seventh year will no longer be available.”