Malaysia legislation
Section 4
Section 4
The Income Tax Act 1967, which is referred to as the
“principal Act” in this Chapter, is amended in subsection 6(1)—
(a)
in paragraph (q), by substituting for the full stop at the end of the paragraph a semicolon; and
(b)
by inserting after paragraph (q) the following paragraph:
“(r) notwithstanding anything contrary to this Act or any other written law, income tax shall be charged for each year of assessment upon the income of an individual, who is a shareholder of a company, either through direct shareholding or a nominee, which consists of dividend paid, credited or distributed, whether in monetary form or otherwise, by the company, and the dividend is deemed by virtue of section 14 to be derived from Malaysia, at the appropriate rate as specified under Part XXII of Schedule 1.”.
7
Finance
Amendment of section 15c