Malaysia legislation
Section 60B
Seksyen 60B
(b)
the amount arrived at under paragraph (a) shall be treated as the chargeable income for a year of assessment of an insurer from off-shore insurance business for the purposes of paragraph 3 of Part I of Schedule 1.
(2)
As soon as any amount of chargeable income from the off-shore insurance business of an insurer (being a company)
resident for the basis year for a year of assessment has been subject to income tax at the rate of five per cent—
(a)
the net amount of that income (after deduction of such tax) shall be credited to an account (that account and company being referred to as the exempt account and the relevant company respectively); and
(b)
paragraph 5 (except subparagraph (1) thereof) and paragraph 6 of Schedule 7A shall apply as if any reference in those paragraphs to any income exempted or which has become exempt under paragraph 3 were a reference to income credited to the exempt account.”; dan
Kewangan 13
(b)
dengan menomborkan semula seksyen 60B yang sedia ada sebagai seksyen 60C.
Pindaan seksyen 103