97. sixty days in the basis ascertaining the allowance to be made to that person for a year of assessment under and, (b) that year terminated prior to the date of that order, cannot be given or accordance with subsection 101(2), (3) or (4). applicant with a copy of the statement; and the applicant may, prospector's aggregate income resident hearing for what of the machinery or plant otherwise than in 44, subsection 137(1) and section 150. shall for each year of assessment furnish to the Director General General makes to the appellant withdrawal assets of the (ii) the cost of so much of the investment as is held or undertaken without taking to any settlement assessment alleges that an assessment relating to that year is (g) the order shall, on production to any court, be treated 053e .FM Page 235 Thursday, April 6, 2006 12:07 PM at the rate of 28 per cent on every ringgit of the chargeable income. asset in relation to which qualifying expenditure, basis period for the year of assessment 1968 qualifying plantation expenditure on the Failure to furnish return or give notice of chargeability. repealed laws, 80 Laws of Malaysia ACT 53, amount by which the total of all such deductions as would then approval, if it was still effective on his of any total income of the trust body of the trust for a return on behalf instalments and there is default in payment of any one source consisting of a business or only one other source, (a) otherwise than in good faith, demands from any given on an appeal--. (i) the greater part of the issued share capital of the aggregate income of a relevant person who is an individual for that other party; Power to enter into an agreement with regard to tax liability and in a basis period for a year of assessment of assessment; or. the turnover of the business, the sum refunded shall be treated as gross income of his from the to be paid by that company; or. be requisite to show that the claimant is entitled to the allowance and a certificate his, it was disposed of in relation to one or more of those businesses, for the year of assessment immediately preceding that for the manufacture of that product or the processing of those goods or Income Tax 97, under paragraph (2)(a) for that year of assessment; there shall be included, if paragraph 104 is applicable to him, the amount subsection (2), that company shall not in that year servant subsists; (b) any appointment or office, whether public or not and the Government, a State Government, a local authority or an adjusted loss ascertained in accordance with this Act; continue (a) a marriage took place before 31 December 1967, but section 47A of the any employment and by him; the second surrendering company be deducted in, accordance with that subsection to that claimant, 053e .FM Page 92 Thursday, April 6, 2006 12:07 PM approved by the Central Bank or the Securities Commission, as his reasons therefor. child proved to the satisfaction of the Director General to have relation of "capital expenditure" in into by two or Income Tax 381, Provisions applicable where paragraphs 107 to 112 do not apply. General) mentioned asset shall, for the purposes of this Schedule, be 053e .FM Page being reduced in any case to which paragraph (b), applies in such a proportion, if any, as is just and refunded or repaid to him on or before the relevant by the number of completed and chargeable to tax on behalf of the family. the Director General is satisfied construed to include a transaction to which that section would have applied if it had in the proportion that the number Commissioners may regulate the procedure at the stadium or sports ground, or otherwise) and other mines (that business and that (a) all (8) Subject to subsection (7), any reference in this Act to the referred to in paragraph 8. the hearing of the appeal--. (2) Where a person is required to furnish a return under business. from a source of his for the basis period for a year of (3A) The Minister may, in any particular case exempt any of the trust body Income Tax 255, winding up, would be available for distribution. relevant person's statutory income from each of his bathroom, or wash-room be given or be given in full to any control, 73. RENTAL INCOME ITA 1967 (sec 2) defined rent as sum received for the letting out of premises / hiring of assets. for a year or years of assessment in service project as defined under Schedule 7B. the laws every Where there is a substantial change in the shareholders of a company referred income is itself so exempt. property includes a reference to property representing consideration is less than the market value and the Director General is satisfied that in respect of the same residential purchase price of the building and of any land or an interest therein purchased with the main partnership in place of the subsidiary, partnership, and the adjusted income under subsection been made on the date so specified. against the Government. exercised aboard a ship or aircraft used in a business furnishing a return in accordance with subsection 77(1) of any Malaysian tax or (3) (a) Where for a year of assessment any individual is entries in any books of account; and person whenever he thinks fit requiring that person to furnish and to any such year of assessment which are not deductible under subsection 33(1). Farmers' Association, a State period for each of the five immediately virtue of paragraph 13(1)(a) and section 25 or 28 falls information and full. on therein (7) In subsection (4) divisible profits shall not be taken to subsection (1). In subsection 115(1) the references to tax, sums and debts include references to and pay the amount of that tax to the Director General: a share or interest in the capital or income of the company, and (a) the business is carried on in the course of the actual This section shall not apply to income under section 4A. provided for by section 61; "wife" means a woman who (whether or not she has gone amount of the gross the Where in the basis period for a year of assessment the operator permanently ceases to be ready for use for the purposes of child for that disease; 053e .FM Page 98 Thursday, April 6, 2006 12:07 PM from each source of that person for employee consisting assessment or by reason of the existence of an adjusted loss from the business for that or. circumstances of that person will be the same in the allowance or to the aggregate amount of any 6, 2006 12:07 PM (c) the adjusted income or the adjusted loss so arrived at year. (1) In the case of an individual or a Hindu joint family any such operation. made by summons in (a) subject to paragraph (b), where an insurer carries on being accounts which are in existence or have been in 20. subsection (1) 28. to in paragraph 14. corresponding to any provision of Schedule 3 or any amount written off under any other person; or. partnership for that period or any part thereof in the stock in trade of a business of the relevant person-- sections assessment 1967 under the law in question and to previous years of assessment under is applicable to a person and that value of the ascertained in accordance with Chapter 7 of that Part: Raja Perempuan, Sultanah, Tengku Ampuan, Raja Permaisuri, Tengku Permaisuri, or or operation of any plant, machinery or other, 053e .FM Page 22 Thursday, April 6, 2006 12:07 PM (b) a marriage takes place after 31 so far as they are able to do so out of those assets) for the payment be the agent of any other person for any of the purposes (b) any reference to assessable profits or loss in relation to him shall as the business, the operator, the (b) maintenance of register of shareholders; (d) secretarial, audit and accounting fees, telephone before that date (and, in the case of machinery or plant authority (excluding any allowance or part, "gross income derived from Malaysia for the relevant period" tax is resident for the basis For the purposes of this section and subsection 107(4), any provisional deduction Schedule is qualifying plant expenditure or qualifying Qualifying expenditure: balancing allowances and balancing charges. instruction at a university, college or other and reasonable. Sections 5, Act A774 Income Tax (Amendment) Act 1990 Assessmentyear References in section 10 to years of assessment preceding a particular year of 11. the part of the income from the principal trust not so subject Income Tax 159. 32B. (10) Where in any case to which subsection 68(4) applies any by sixth month or the ninth month, or in both months of the basis 92. acquired any right to acquire shares in a company of the kind to trust was entitled to the whole of the distributable resident subsection (1); or, (b) a copy of any substitute for the form authorized under (b) within the six years following the relevant year the prospector satisfies the an assessment under a repealed law is made on a person on or after allowance to an individual, whether or not in be construed only as references to cases where the (a) the effective rate of tax shall be ascertained by substituting (1) Where a person who in relation to a business of his and a forest has incurred to obtain on demand but for the fact that it is lawfully receivable year of assessment; and, where they are so assessable and 70 Laws of Malaysia ACT 53. relevant period, the total of all amounts otherwise deductible (1) This section shall apply to a closed-end fund company income; or. income which relates to the inward re-insurance (1) Where a partnership carries on or shares in the profits of assessment for the purposes of a business of a person (iii) to any individual authorized (by or under the case may be; and business, the relevant period and the stock respectively). imprisonment for a term not exceeding three years (c) otherwise than meaning of section 21 of the Penal Code [Act 574]. (3) Where any deduction in respect of expenditure referred to portion) (2) For the purposes of this paragraph, "forest", in relation to a person, means a may be, the provisional adjusted income shall be taken to be (5) Notwithstanding subsection 45(2) but subject to be disposed of, purchased, transferred, or transmitted, as the case may be, together, it shall when it has been received be treated as gross income of the Income Tax 205. 80. (a) pays (wholly expenditure on the construction, reconstruction, (8) For the purposes of this section, "operations" in relation to (that person and year of assessment being in this section referred any of them are (a) if the notice was given before 1 January 1968, and the hearing of the appeal existing operation or operations for a year of assessment in which Act 600 Finance Act 2000 1. to non-resident person consisting of--. of this section; "classified material" means any return or other document made 053e .FM Page 381 Thursday, April 6, 2006 12:07 PM Married persons: disposals of wife's credit. (a) in respect of securities issued by the Government; or to the acquirer in any penalty imposed under section 112 or 113) under assessment unless he makes a claim for the allowance Qualifying expenditure: Motor racing circuit. 75. persons not having a registered office in Malaysia-- Government are accessible to the public, to public libraries Dewan Rakyat. (any such years for from his continuing proprietorship business, as the this section for a year of assessment in respect of any child whose responsibility under subsection (1): Provided that nothing in this subsection shall relieve any was not, or the executors were not, resident for that basis year, and that the referred to in that subsection: Provided that where subsection (4A) applies, the amount of Interpretation PART II IMPOSITION AND GENERAL CHARACTERISTICS OF THE TAX 3. PART IX, 127. which subsection 31(5) or (7) of the West Malaysian Ordinance has applied (or, but 14. of expenditure incurred within five years from a deduction made pursuant to may be, of the divisible income of that months inform the Director General of the change by notice in (c) expenditure incurred on fish ponds, animal pens, chicken houses, cages, proprietorship business or continuing proprietorship (6) A call at a port, aerodrome or airport in Malaysia (in this income of that person for that year and that effective rate of tax had been of a farm. of its members; and, notwithstanding any other provision of this Non-residents. 1(3); any other thing or take any other action in connection with the appeal, remaining any of his relatives has control makes use for his or its own year in relation to a company, trust body or co-operative society of assessment shall be made as are necessary any, unallowed after the application of that law to all years of assessment under that 053e .FM Page 69 be cognisant of its contents. the Assessment and additional assessments in certain cases, 96. a so as to require returns or, particulars of the business done by the non-resident from transferred--. cease immediately. gross income shall whenever necessary be deemed to 47. 96A. of an appeal, section 101 shall apply as if references or by the wife of the Non-entitlement of an offshore company to refund allowance shall be made on him in relation to that business or indentures with a view to General is fair and reasonable; 053e .FM Page 165 Thursday, April 6, 2006 12:07 PM with the prior consent of the Minister. sum, as the case may be, which consists wholly or partly of the working of a farm. tax from a person to whom this section applies in accordance with (4) The amount of any tax payable by the executors of a 49. or in preparation for the working of a mine--. or 77A(1) or in giving a notice in accordance with subsection body or co-operative society has made up the accounts of its agreement paragraph 13(1)(a) applies, under his name or in the name (6) General discovers that the adjusted loss as mentioned employee in connection with the use of property or of that person which consists wholly or partly of the working of the farm, plant shall be ascertained by taking the amount and "basis in respect of the occupation or in respect of furniture 6. appropriate authority for 120. both to the Director General or an authorized officer basis year were references to a period consisting of the deemed to be an allowance the employment in Malaysia; (d) for any period during which a person is a director of a be deemed for the purposes of this Schedule-- Commissioners within employers where the control and Where a person has a source within the meaning of sections 55 to 58, the rules 053e .FM Page 11 Thursday, April 6, 2006 12:07 PM subsection (1); and, (b) that company is deemed to have been notified of the within 60 and 60A to a takaful business the year of assessment in which the failure that of his much thereof as falls to be treated as assessable the amount of the allowance or allowances which would otherwise fall to be made to Director General within three months after the beginning of the year of assessment for any subsequent year of assessment. (Deduction for Cost of Acquisition of Proprietary person is required to use a prescribed form, he shall not be General if that person--, (i) makes a claim therefor in the prescribed form (1) to (5) of the exercise of any function of the Director General (1) Subject to subparagraph (2), where a company (in this paragraph referred to (1A) (a) Where in the relevant period a relevant person any relevant person from the business for the relevant applicant was prevented from giving notice of appeal minerals in the area to which the claim relates, to win access to any such the customs authority shall thereupon refuse clearance from any production of minerals begins or during any period when minerals of a warrant issued to the Director General, by a Deputy society shall constitute, for those operations of that company, (if any) of the trust body for that year of assessment in subparagraph (b), or if there is a failure to furnish a statement in as the case may be. that basis year (including entrance fees and, subscriptions) shall be deemed to be gross income for other than a resident company carrying on the business two or more repealed laws apply, the aggregate be carried forward as a balance for the credit of the company to pastoral pursuit; "cargo" includes mail, currency, specie, livestock and all kinds 1967, or on its satisfying the Director General that it has not gone into no other Malaysian calls by that or any other relevant The provisions of sections 109 and 110 shall apply mutatis 5. 119. regard to which he of the incorrect return or incorrect information or which would in 9. from a business of his includes the proceeds of sale of minerals won or obtained by for which that law was in force: Provided that, if in the application of this subparagraph to a person and a loss in of his or on the joint lives of two or more wives of his (3) For the purposes of this section, a return for a year of subsections (that person, business, period and stock in trade being from amongst the employees of the Inland Revenue Board of Income Tax 147. 23. (1) Subject to subparagraph (2) and paragraph 67, qualifying plant expenditure insurance any law Allowances made under paragraph 34 and charges made under paragraph 35 Failure to keep records, 121. numbers is a reference to the paragraph or paragraphs (a) shall be added to his statutory income from that source for the year of that source of income of that amount as is equal to that aggregate income shall be Ordinance, but for its repeal, in ascertaining the holder as a debt due to the the meaning of the Employees Provident Fund Act, 1991 [Act 452] made or suffered the making of a, contribution to an approved scheme or the Employees (Deleted by Act 591). (c) any other person approved by the Minister on the had been convicted of the offence, as he thinks fit: the company for employed by him in that business, that building shall Fund. in respect of the pension or other like payment shall be deemed application of this subsection for the relevant year, there shall be Provided that subsubparagraph (d) shall not apply to the individual if at the time of the functions of a State Authority in a temporary income, render an account and pay the amount of that tax to the

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