Section 22

The principal Act is amended by inserting after section 112

the following section:

“Failure to furnish country-by-country report 112a. (1) Any person who makes default in furnishing a country-by-country report in accordance with the relevant rules made under paragraph 154(1)(c) to implement or facilitate

Finance 25

the operation of an arrangement having effect under section 132b shall be guilty of an offence and shall, on conviction, be liable to a fine of not less than twenty thousand ringgit and not more than one hundred thousand ringgit or to imprisonment for a term not exceeding six months or to both.