Malaysia legislation
Section 19
Section 19
Amendment of Schedule 6
(a)
by deleting paragraph 11;
(b)
by substituting for the proviso to paragraph 13 the following new proviso:
“Provided that—
(a)
where a business is carried on by any such institution, trust body or body of persons, the income from the business shall be exempt from tax only if it is applied solely for charitable purposes and either—
(i)
the business is carried on in the course of the actual carrying out of a primary purpose of the institution, trust or body of persons; or
(ii)
the work in connection with the business is mainly carried on by persons for whose benefit the institution, trust or body of persons was established;
(b)
the exemption under this paragraph shall not apply to income consisting of a dividend.”;
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Finance
(c)
by substituting for the word “two” the word “four”
in paragraph 15(1)(b);
(d)
by substituting for the full stop a colon at the end of paragraph 17;
(e)
by inserting after paragraph 17 the following new proviso:
“Provided that the exemption under this paragraph shall not apply to income consisting of a dividend.”;
(f)
by substituting for the full stop a colon at the end of paragraph 26;
(g)
by inserting after paragraph 26 the following new proviso:
“Provided that the exemption under this paragraph shall not apply to income consisting of a dividend.”; and
(h)
by deleting Part II.
Amendment of Schedule 7A