Malaysia legislation
Section 7
Section 7
Subsection 6(1) of the principal Act is amended—
(a)
by deleting the words “or long-term loan” in subparagraph
(b)
;
(b)
by substituting for the full stop at the end of paragraph
(e)
, a semi-colon; and
(c)
by inserting immediately after paragraph (e), the following new paragraph (f):
“(f) subject to the provisions of section 109C but notwithstanding any other provisions of this Act, income tax shall be charged for each year of assessment upon the income of an individual resident in Malaysia which consists of interest (other than interest exempt from tax under this Act or any order made thereto) accruing in or derived from
Malaysia and received from a person referred to in subsection 109C(4) at the appropriate rate as specified under Part VI of Schedule 1.”.
Finance (No. 2)
11
Amendment of section 13