Malaysia legislation
Section 6
Section 6
(1A)
For the purposes of this Act, where the Director General is deemed to have made an assessment under subsection (1)—
(a)
the return of profits referred to in that subsection shall be deemed to be a notice of assessment; and
(b)
the notice of assessment shall be deemed to have been served on the Labuan entity on the day on which the
Director General is deemed to have made the assessment.
(2)
The Director General, where for any year of assessment it appears to him that no or no sufficient assessment has been made on a person chargeable to tax, may in that year or within five years after its expiration make an assessment or additional assessment, as the case may be, in respect of that person in the amount or additional amount of chargeable profit and tax or in the additional amount of tax, in which according to the best of the Director General’s judgment, the assessment with respect to that person ought to have been made for that year.
(3)
The Director General, where for any year of assessment it appears to him that no or no sufficient assessment has been made on a person chargeable to tax in consequence of the Director General’s determination pursuant to subsection 17D(3), may in that year or within seven years after its expiration make an assessment or additional assessment, as the case may be, in respect of that person in the amount or additional amount of chargeable profit and tax or in the additional amount of tax, in which according to the best of the Director General’s judgment, the assessment with respect to that person ought to have been made for that year.
Laws of Malaysia ACT 445
16
(4)
The Director General where it appears to him that—
(a)
any form of fraud or wilful default has been committed by or on behalf of any person; or
(b)
any person has been negligent, in connection with or in relation to tax, may at any time make an assessment in respect of that person for any year of assessment for the purpose of making good any loss of tax attributable to the fraud, wilful default or negligence in question.
Form and making of assessments