Malaysia legislation
Section 32
Section 32
Subparagraph 19a(4) of Schedule 3 to the principal Act is amended—
(a)
in subsubparagraph (b), by deleting the word “or” at the end of the subsubparagraph;
(b)
in subsubparagraph (c), by substituting for the full stop at the end of the subsubparagraph the words “; or”; and
(c)
by inserting after subsubparagraph (c) the following subsubparagraph:
“(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.”.
Amendment of Schedule 6