Malaysia legislation
Section 20
Section 20
Schedule 7A to the principal Act is amended by substituting for paragraph 7 the following new paragraph 7:
“7. This Schedule shall not apply to a company—
(a)
for the period during which the company—
(i)
has been granted pioneer status under the Promotion of Investments Act 1986 [Act 327] in respect of a promoted activity or promoted product and which is applying or intends to apply for the grant of a pioneer certificate; or
(ii)
has been granted pioneer certificate under the
Promotion of Investments Act 1986 in respect of a promoted activity or promoted product and whose tax relief period has not ended or ceased;
(b)
for the period prescribed under paragraph 29(2)(b), (c)
or (d) of the Promotion of Investments Act 1986 in respect of a promoted activity or promoted product for which the company has been granted approval under section 27 of that Act;
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(c)
for the year of assessment for which the company is given abatement of adjusted income under section 32,
33, 34 or 36 of the Promotion of Investments Act 1986;
or
(d)
for the period during which that company, notwithstanding the repeal of the Investment Incentives Act 1968—
(i)
has been given approval under section 5, 12A or 12B of that Act and whose tax relief period has not ended; or
(ii)
has been given approval under section 26 of that
Act and incurs capital expenditure which qualifies for investment tax credit.”.