Is AKTA KEWANGAN (NO. 2) 1998 still in force?

Yes — AKTA KEWANGAN (NO. 2) 1998 is currently in force.

When did AKTA KEWANGAN (NO. 2) 1998 take effect?

AKTA KEWANGAN (NO. 2) 1998 was first recorded in 1998.

How many sections does AKTA KEWANGAN (NO. 2) 1998 have?

AKTA KEWANGAN (NO. 2) 1998 contains 29 sections.

Where can I read the official version of AKTA KEWANGAN (NO. 2) 1998?

The official text of AKTA KEWANGAN (NO. 2) 1998 is published at lom.agc.gov.my.

/akn/my/act/act/1998/591

AKTA KEWANGAN (NO. 2) 1998

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Type: Act
Status: In force
Enacted: 1998
Sections: 30
Languages: MS · EN

Quick answer

About this act

AKTA KEWANGAN (NO. 2) 1998 is Malaysia Act, cited as Act 591 1998, currently marked in force and first recorded in 1998.

Opening note

Preamble

Suatu Akta untuk meminda Akta Cukai Pendapatan 1967, Akta Cukai Keuntungan Harta Tanah 1976 dan Akta Cukai Aktiviti Perniagaan Luar Pesisir Labuan 1990. [ ] DIPERBUAT oleh Parlimen Malaysia seperti yang berikut:

Bab I

Permulaan

Tajuk ringkas

Seksyen 1

Akta ini bolehlah dinamakan Akta Kewangan (No. 2) 1998.

Seksyen 2

Pindaan Akta

Harta Tanah 1976 [Akta 169] dan Akta Cukai Aktiviti Perniagaan

Luar Pesisir Labuan 1990 [Akta 445] dipinda mengikut cara yang dinyatakan masing-masing dalam Bab II, III dan IV.

Bab II

PINDAAN KEPADA AKTA CUKAI PENDAPATAN 1967

Permulaan kuat kuasa pindaan kepada Akta Cukai Pendapatan 1967

Seksyen 3

(2)

Seksyen 4 hendaklah disifatkan telah mula berkuat kuasa pada 24 Oktober 1998.

(3)

Seksyen 6 dan 10 hendaklah berkuat kuasa bagi tahun taksiran 2000 dan tahun-tahun taksiran yang berikutnya.

(3a)

Seksyen 8 hendaklah disifatkan telah mula berkuat kuasa bagi tahun taksiran 1995 dan tahun-tahun taksiran yang berikutnya.

(4)

Seksyen 13 hendaklah disifatkan berkuat kuasa bagi tahun taksiran 1998 dan tahun-tahun taksiran yang berikutnya.

Pindaan seksyen 13

Seksyen 4

Akta 591

Bab ini, dipinda dengan menggantikan subperenggan 13(1)(b)(ii)

dengan subperenggan yang berikut:

“(ii) a benefit or amenity consisting of—

(A)

leave passages for travel within Malaysia not exceeding three times in any calendar year; or

(B)

one leave passage for travel between Malaysia and any place outside Malaysia in any calendar year, limited to a maximum of three thousand ringgit:

Provided that the benefit or amenity enjoyed under this subparagraph is confined only to the employee and members of his immediate family;”.

Pindaan seksyen 34

Seksyen 5

Perenggan 34(6)(h) Akta ibu dipinda dengan menggantikan perkataan relevant authority dengan perkataan Minister.

Seksyen 6

Pindaan seksyen 44

(a)

dalam perenggan (1)(b) dengan menggantikan perkataan

“or 4b” dengan perkataan “, 4b or 4c”;

(b)

dalam subseksyen (6) dengan menggantikan perkataan

“or 4b,” dengan perkataan “, 4b or 4c”; dan

(c)

dalam subseksyen (6a) dengan menggantikan perkataan

“or 4b,” dengan perkataan “, 4b or 4c”.

Kewangan (No. 2)

Pindaan seksyen 54a

Seksyen 7

Seksyen 54a Akta ibu dipinda—

(a)

dengan menggantikan subseksyen (1) dengan subseksyen yang berikut:

“(1) Subject to the following subsections, where a person who is resident for the basis year for a year of assessment carries on the business of—

(a)

transporting passengers or cargo by sea on a

Malaysian ship; or

(b)

letting out on charter a Malaysian ship owned by him on a voyage or time charter basis, the statutory income for that year of assessment from that business shall be exempt from tax.”;

(b)

dalam subseksyen (3) dengan menggantikan perkataan “the business of transporting passengers or cargo on board a

Malaysian ship” dengan perkataan “a business in respect of which his income is exempt under subsection (1)”;

dan

(c)

dalam subseksyen (6)—

(i)

dengan menggantikan koma bertitik yang terdapat di hujung takrif “person” dengan noktah; dan

(ii)

dengan memotong takrif “transporting passengers or cargo”.

Pindaan seksyen 60

Seksyen 8

Seksyen 60 Akta ibu dipinda—

(a)

dengan menggantikan subperenggan (3a)(a)(iii) dengan subperenggan yang berikut:

“(iii) the amount of the actuarial surplus from the life fund that is transferred to the shareholders’ fund;

and”; dan

Undang-Undang Malaysia

Akta 591

(b)

dengan menggantikan subperenggan (4a)(a)(iii) dengan subperenggan yang berikut:

“(iii) the amount of the actuarial surplus from the life fund that is transferred to the shareholders fund;

and”.

Penggantian seksyen 130

Seksyen 9

Akta ibu dipinda dengan menggantikan seksyen 130 dengan seksyen yang berikut:

“Non-resident citizen relief

Seksyen 130

(2)

The relief shall be such relief as will reduce the amount of tax chargeable on him in respect of his chargeable income for that year of assessment to an amount which bears the same proportion to the amount of tax which would be so chargeable if he were resident for that basis year and the tax were charged on his aggregate income as the amount of his total income bears to the amount of his aggregate income.

(3)

An individual claiming relief under this section shall make his claim in the prescribed form and shall furnish such further particulars as the Director General may require.

(4)

In this section, aggregate income, in relation to an individual claiming relief under this section for a year of assessment, means his total income, accruing in or derived from Malaysia or elsewhere, computed in accordance with the provisions of this Act:

Provided that where subsection 45(2) applies in arriving at the aggregate income the reference to total income shall include the total income of the wife of the individual.”.

Kewangan (No. 2)

Jadual baru 4c

Seksyen 10

Akta ibu dipinda dengan memasukkan selepas Jadual 4b

Jadual yang berikut:

“Schedule 4c

[Section 44]

Deduction for Approved Food Production Projects

Seksyen 1

Subject to this Schedule, a company resident in Malaysia in the basis year for a year of assessment (referred to in this Schedule as a “surrendering company”) may surrender its adjusted loss, in full or in part, in the basis period for that year of assessment in respect of an approved food production project to one or more related companies resident in Malaysia in the basis year for that year of assessment (referred to in this Schedule as a “claimant company”).

Seksyen 2

In relation to an approved food production project—

(a)

the application for approval for the project shall be made not later than 31 December 1999;

(b)

the project shall commence within one year from the date of approval;

and

(c)

at least eighty per cent of the sales, if any, of the produce are made within Malaysia.

Seksyen 3

For the purposes of this Schedule, a surrendering company is related to a claimant company if at the end of the basis period for a year of assessment at least—

(a)

seventy per cent of the issued share capital of the surrendering company are directly owned by the claimant company;

(b)

seventy per cent of the issued share capital of the claimant company are directly owned by the surrendering company; or

(c)

seventy per cent each of the issued share capital of the surrendering company and claimant company are directly owned by another company.

Seksyen 4

The amount of adjusted loss surrendered shall be allowed as a deduction against the aggregate income of the claimant company pursuant to subsection 44(1).

Undang-Undang Malaysia

Seksyen 5

Akta 591

Any amount of adjusted loss from the approved food production project that is not surrendered in any year of assessment shall not be available to any claimant company for any subsequent year of assessment.

Seksyen 6

Where the basis period of the surrendering company does not coincide with the basis period of the claimant company, the adjusted loss from the approved food production project shall be deemed to have accrued evenly over the basis period of the surrendering company and the amount of adjusted loss surrendered shall not exceed such amount that is apportioned to the period that coincides with the basis period of the claimant company.

Seksyen 7

Where a company has commenced an approved food production project, that company shall maintain a separate account for the income derived from that project:

Provided that where expenses have been incurred by that company which are not directly attributable to that project, the Director General may allocate as expenses such amount as might reasonably and properly have been incurred in the normal course of its business in respect of such project.

Seksyen 8

Any claim for a deduction under this Schedule shall be made in a written statement and shall be accompanied by a notice of consent given by the surrendering company containing such particulars as to show the amount of adjusted loss being surrendered.

Seksyen 9

Notwithstanding the foregoing provisions of this Schedule, where it appears to the Director General that the deduction as mentioned in paragraph 4 ought not to have been so given, the Director General may raise such assessment or additional assessment upon that claimant company as may be necessary in order to make good any loss of tax.

Seksyen 10

The provisions of this Schedule shall not apply to a surrendering company which has been allowed a deduction under Schedule 4a or given an allowance under Schedule 7a, or granted any incentive under the Promotion of Investments Act 1986 [Act 327] in respect of the same activity.

Seksyen 11

Jadual 6 Akta ibu dipinda—

(a)

dalam perenggan 1a dan 1b dengan menggantikan perkataan

“Raja Permaisuri or Tengku Ampuan” dengan perkataan

Kewangan (No. 2)

“Tengku Ampuan, Raja Permaisuri, Tengku Permaisuri, or Permaisuri”;

(b)

dalam perenggan 30 dengan memotong perkataan “resident for the basis year for a year of assessment”;

(c)

dengan menggantikan perenggan 34 dengan perenggan yang berikut:

“34. (1) Income of an individual derived from exercising an employment on board a Malaysian ship.

(2)

For the purposes of subparagraph (1), Malaysian ship has the same meaning as in section 54a(6).”;

dan

(d)

dengan memasukkan selepas perenggan 35 perenggan yang berikut:

“35a. Income of a unit trust in respect of interest derived from Malaysia and paid or credited by any bank or financial institution licensed under the Banking and Financial Institutions Act 1989 [Act 372] or the

Islamic Banking Act 1983 [Act 276].”.

Pindaan Jadual 7

Seksyen 12

Jadual 7 kepada Akta ibu dipinda dengan memotong perenggan 8.

Seksyen 13

Pindaan Jadual 7a

(a)

dalam subperenggan (1)(a) dengan memasukkan selepas koma bertitik perkataan “and”;

(b)

dalam subperenggan (1)(b) dengan menggantikan perkataan

“; and” dengan koma; dan

(c)

dengan memotong subperenggan (1)(c).

Undang-Undang Malaysia

Akta 591

Bab III

PINDAAN KEPADA AKTA CUKAI KEUNTUNGAN

HARTA TANAH 1976

Permulaan kuat kuasa pindaan kepada Akta Cukai Keuntungan

Harta Tanah 1976

Seksyen 14

Bab ini hendaklah mula berkuat kuasa apabila Akta ini mula berkuat kuasa.

Seksyen 15

Pindaan seksyen 53

Akta Cukai Keuntungan Harta Tanah 1976 dipinda dengan menggantikan perenggan 53(2)(a) dengan perenggan yang berikut:

“(a) mengenai sesuatu syarikat, perkongsian atau kumpulan orang yang mempunyai pejabat berdaftar di Malaysia—

(i)

ke pejabat berdaftar itu;

(ii)

ke alamatnya yang terakhir diketahui; atau

(iii)

kepada mana-mana orang yang diberi kuasa olehnya untuk menerima penyampaian proses;”.

Bab IV

PINDAAN KEPADA AKTA CUKAI AKTIVITI PERNIAGAAN

LUAR PESISIR LABUAN 1990

Permulaan kuat kuasa pindaan kepada Akta Cukai Aktiviti

Perniagaan Luar Pesisir Labuan 1990

Seksyen 16

Bab ini hendaklah berkuat kuasa bagi tahun taksiran 1999

dan tahun-tahun taksiran yang berikutnya.

Kewangan (No. 2)

Seksyen 17

Pindaan seksyen 2

Akta Cukai Aktiviti Perniagaan Luar Pesisir Labuan 1990, yang disebut Akta ibu dalam Bab ini, dipinda dalam subseksyen 2(1)—

(a)

dengan menggantikan proviso kepada takrif “aktiviti perniagaan luar pesisir” dengan proviso yang berikut:

“Dengan syarat bahawa—

(a)

berhubungan dengan syarikat luar pesisir yang menjalankan perniagaan bank luar pesisir, aktiviti itu bolehlah dijalankan dengan pemastautin dan, jika dibenarkan di bawah subseksyen 20(2) Akta Bank Luar Pesisir 1990 [Akta 443], transaksi bolehlah dijalankan dalam mata wang Malaysia;

(b)

berhubungan dengan syarikat luar pesisir yang menjalankan perniagaan insurans luar pesisir, aktiviti itu bolehlah dijalankan dengan pemastautin dan, jika dibenarkan di bawah subseksyen 21(2) Akta Insurans Luar Pesisir 1990 [Akta 444], transaksi bolehlah dijalankan dalam mata wang Malaysia;

(c)

berhubungan dengan pemegangan pelaburan oleh suatu syarikat luar pesisir dalam suatu syarikat domestik, pemegangan itu bolehlah dalam mata wang Malaysia;

(d)

berhubungan dengan syarikat luar pesisir yang menjalankan perniagaan pembrokeran wang, aktiviti itu bolehlah dijalankan dengan pemastautin jika dibenarkan di bawah perenggan 7(3)(a) Akta Syarikat Luar Pesisir 1990 [Akta 441];

(e)

berhubungan dengan syarikat luar pesisir yang menjalankan perniagaan pemajakan luar pesisir, aktiviti itu bolehlah dijalankan dengan pemastautin jika dibenarkan di bawah perenggan 7(3)(a) Akta Syarikat Luar Pesisir 1990; atau 14

Undang-Undang Malaysia

Akta 591

(f)

Menteri boleh meluluskan perjalanan aktiviti itu dengan pemastautin atau transaksi itu dalam mata wang Malaysia;”; dan

(b)

dengan memasukkan selepas takrif “Menteri” takrif yang berikut:

‘ “operasi perkapalan” ertinya pengangkutan penumpang atau kargo melalui laut atau penyewaan berdasarkan carter kapal atas asas carter perjalanan atau masa;’.

Pemotongan seksyen 10a

Seksyen 18

Akta ibu dipinda dengan memotong seksyen 10a.

Kewangan (No. 2)

undang-undang malaysia

Akta 591

akta kewangan (NO. 2) 1998

senarai pindaan

Undang-undang

Tajuk ringkas

Berkuat kuasa yang meminda dari

Akta 631

Akta Kewangan 2003 01-01-1999

Undang-Undang Malaysia

Akta 591

undang-undang malaysia

Akta 591

akta kewangan (NO. 2) 1998

senarai seksyen yang dipinda

Seksyen

Kuasa meminda

Berkuat kuasa dari

Akta 631 01-01-1999

Common questions

What is AKTA KEWANGAN (NO. 2) 1998?: AKTA KEWANGAN (NO. 2) 1998 is Malaysia Act, cited as Act 591 1998, currently marked in force and first recorded in 1998.
Is AKTA KEWANGAN (NO. 2) 1998 still in force?: Yes — AKTA KEWANGAN (NO. 2) 1998 is currently in force.
When did AKTA KEWANGAN (NO. 2) 1998 take effect?: AKTA KEWANGAN (NO. 2) 1998 was first recorded in 1998.
How many sections does AKTA KEWANGAN (NO. 2) 1998 have?: AKTA KEWANGAN (NO. 2) 1998 contains 29 sections.
Where can I read the official version of AKTA KEWANGAN (NO. 2) 1998?: The official text of AKTA KEWANGAN (NO. 2) 1998 is published at lom.agc.gov.my.