Section 21
Power of Minister to make regulations
of Labuan Business Activity Tax Act 1990
The Minister may make regulations—
(a)
generally for the purpose of carrying out, or giving effect to, the provisions of this Act;
(b)
for the purpose of implementing or facilitating the operation of an arrangement having effect under section 132, 132A,
132B or 132C of the Income Tax Act 1967;
(c)
providing for the scope and procedure applied in relation to any ruling made under section 17B; and
(d)
prescribing fees charged in relation to any ruling made under section 17B.
(2)
The regulations made under this section may prescribe a penalty of a fine not exceeding one million ringgit or imprisonment for a term not exceeding two years or both for any contravention or failure to comply with any of the provisions of the regulations.