Malaysia legislation
Section 16
Section 16
Amendment of Schedule 1
(a)
in paragraph 1, by substituting for the chargeable income and rates of income tax the following chargeable income and rates of income tax:
“Chargeable income
Rate of income tax
For every ringgit of the first 5,000 0 per cent
For every ringgit of the next 15,000 1 per cent
For every ringgit of the next 15,000 3 per cent
For every ringgit of the next 15,000 6 per cent
For every ringgit of the next 20,000 11 per cent
For every ringgit of the next 30,000 19 per cent
Finance 13
For every ringgit of the next 300,000 25 per cent
For every ringgit of the next 200,000 26 per cent
For every ringgit of the next 1,400,000 28 per cent
For every ringgit exceeding 2,000,000 30 per cent”;
(b)
in paragraph 2a, by substituting for the chargeable income and rates of income tax the following chargeable income and rates of income tax:
“Chargeable income
Rate of income tax
For every ringgit of the first 150,000 15 per cent
For every ringgit of the next 450,000 17 per cent
For every ringgit exceeding 600,000 24 per cent”;
(c)
in paragraph 2b—
(i)
in subparagraph (b), by deleting the word “or”
at the end of the subparagraph;
(ii)
in subparagraph (c), by substituting for the full stop at the end of the subparagraph the words
“; or”; and
(iii)
by inserting after subparagraph (c) the following subparagraph:
“(d) twenty per cent of the paid-up capital in respect of ordinary shares of the company at the beginning of the basis period for a year of assessment is directly or indirectly owned by one or more companies incorporated outside Malaysia or by one or more individuals who are not citizens of Malaysia.”;
14
Act 845
(d)
in paragraph 2d, by substituting for the chargeable income and rates of income tax the following chargeable income and rates of income tax:
“Chargeable income
Rate of income tax
For every ringgit of the first 150,000 15 per cent
For every ringgit of the next 450,000 17 per cent
For every ringgit exceeding 600,000 24 per cent”;
(e)
in paragraph 2e—
(i)
in subparagraph (b), by deleting the word “or”
at the end of the subparagraph;
(ii)
in subparagraph (c), by substituting for the full stop at the end of the subparagraph the words
“; or”; and
(iii)
by inserting after subparagraph (c) the following subparagraph:
“(d) twenty per cent of the capital contribution (whether in cash or in kind) of the limited liability partnership at the beginning of the basis period for a year of assessment is directly or indirectly contributed by one or more companies incorporated outside
Malaysia or by one or more individuals who are not citizens of Malaysia.”; and
(f)
in paragraph 2f, by inserting after the words
“subparagraph 2e(c)” the words “and the company or companies incorporated outside Malaysia referred to in subparagraph 2e(d)”.
Amendment of Schedule 3