Malaysia legislation
Section 2C
Section 2C
For the purpose of paragraph 2B, “related company” means a company which has a paid up capital in respect of ordinary shares of more than two million and five hundred thousand ringgit at the beginning of the basis period for a year of assessment.”;
(b)
in Part IV, in column “Rate of income tax”—
(i)
by substituting for the words “3 per cent” the words “2 per cent”; and
(ii)
by substituting for the words “28 per cent” the words “27 per cent”;
(c)
in Part X—
(i)
in subparagraph 1(a), by substituting for the words
“15%” the words “10%”; and
(ii)
in subparagraph 1(c), by substituting for the words
“20%” the words “10%”; and
(d)
by inserting after Part XII the following Part:
34 Laws of Malaysia ACT 693