Malaysia legislation
Section 193
Section 193
(2)
For the purposes of subsection (1), a Constituent
Entity that indirectly owns an Ownership Interest in an Investment Entity or Insurance Investment Entity through a direct Ownership Interest in another Investment Entity or Insurance Investment Entity is considered to be subject to tax under a mark-to-market or similar regime with respect to the indirect Ownership Interest in the first-mentioned
Entity if it is subject to a mark-to-market or similar regime with respect to the direct Ownership Interest in the second-mentioned Entity.
(3)
The election under this section is a Five-Year Election.
(4)
If the election is revoked, gain or loss from the disposition of an asset or liability held by the Investment
Entity shall be determined based on the fair value of the assets or liabilities on the first day of the revocation year.
Finance (No. 2)
127
Taxable Distribution Method Election