Malaysia legislation
Section 4
Section 4
the income tax Act 1967, which is referred to as the “principal
(a)
in subsection (1)—
(i)
by inserting after the definition of “business”
the following definition:
‘ “business trust” has the same meaning assigned to it in the capital markets and services Act 2007[Act 671];’;
(ii)
in the definition of “central Bank”, by substituting for the words “central Bank of malaysia
Act 1958 [Act 519]” the words “central Bank of malaysia Act 2009 [Act 701]”;
(iii)
in the definition of “company”, by inserting after the word “malaysia” the words “and a business trust”;
(iv)
by inserting after the definition of “lease” the following definition:
‘ “limited liability partnership” means a limited liability partnership registered under the Limited Liability Partnerships Act 2012
[Act 743];’;
(v)
in the definition of “partnership”, by inserting after the words “a partner in a partnership” the words “, a limited liability partnership”;
(vi)
in the definition of “person”, by inserting after the words “body of persons” the words “, a limited liability partnership”; and
(vii)
by inserting after the definition of “total income”
the following definition:
‘ “treasury share” means a share of a company that was previously issued but was repurchased, redeemed or otherwise acquired by such company and not cancelled;’;
10
Act 755
(b)
in subsection (9), by inserting after the words “shall exclude” the words “a business trust and”; and
(c)
by inserting after subsection (10) the following subsection:
“(11) in relation to a business trust, any reference in this Act to shares or ordinary share capital, shareholders and dividend shall be read as including a reference to units or derivatives of units, unit holders and distributions, respectively.”.
new section 4b