Malaysia legislation
Section 6
Section 6
Section 34b of the principal Act is amended—
(a)
in subsection (1)—
(i)
by substituting for the words “subsection (3)” the words “subsection (2)”;
(ii)
by deleting the word “or” at the end of paragraph
(a)
;
Finance
(iii)
by substituting for the full stop at the end of paragraph (b) the punctuation mark and word “;
or”; and
(iv)
by inserting after paragraph (b) the following paragraph:
“(c) payment for the use of the services of a research and development company or a contract research and development company.”;
(b)
by substituting for the full stop at the end of subsection (2)
a colon and inserting thereafter the following proviso:
“Provided that no deduction in respect of that expenditure shall be made under this section to a person being a related company of a research and development company which has been given approval under subsection 27d(1)
of the Promotion of Investments Act 1986 and whose period as prescribed under paragraph 29e(2)(b) of that
Act has not ended.”; and
(c)
by substituting for the full stop at the end of paragraph
(4)
a semicolon and inserting thereafter the following paragraph:
“(c) a “contract research and development company”, a
“related company” and a “research and development company” have the meaning assigned thereto in section 2 of the Promotion of Investments Act 1986.”.
Amendment of section 39