Malaysia legislation
Section 13
Section 13
Miscellaneous receipts
(2)
Subject to this Act, where in the relevant period the relevant chargeable person receives in relation to the petroleum operations sums by way of—
(a)
insurance, indemnity, recoupment, recovery, reimbursement or otherwise—
Petroleum (Income Tax)
(i)
where such sums are in respect of the kind of outgoings and expenses deductible in ascertaining the adjusted income of that relevant chargeable person from the petroleum operations; or
(ii)
under a contract of indemnity; and
(b)
compensation for loss of income from the petroleum operations, the receipts shall be treated as gross income of that relevant chargeable person for that relevant period.
Receipts from disposal of assets vesting in Petroliam Nasional
Berhad or the Malaysia-Thailand Joint Authority