The responsibility for doing all acts and things required to be done—
by or on behalf of a Constituent Entity that is a limited liability partnership for the purposes of this Part shall lie jointly and severally—
Constituent Entity
“Constituent Entity” means— (a) any Entity that is included in a Group; or (b) any Permanent Establishment of a Main Entity that is within paragraph (a) and which is treated as separate from the Main Entity and any other Permanent Establishment of that Main Entity, but does not include an Excluded Entity;
with the compliance officer who is appointed amongst the partners of the limited liability partnership or natural persons qualified to act as secretaries under the
Companies Act 2016 who is a citizen or permanent resident of Malaysia and ordinarily resides in Malaysia; or
if no compliance officer is appointed as such, any one or all of the partners thereof; and
by or on behalf of a Constituent Entity that is a business trust for the purposes of this Part shall lie jointly and severally with the trustee manager of such business trust.
For the purposes of this section, “compliance officer”
has the meaning assigned to it in section 27 of the
Limited Liability Partnerships Act 2012.
Where in a Financial Year, a Constituent Entity that is a partnership or a company has converted into a limited liability partnership in accordance with the Limited Liability Partnerships Act 2012—
Financial Year
“Financial Year” means an accounting period with respect to which the Ultimate Parent Entity of the Multinational Enterprise Group prepares its Consolidated Financial Statements and in the case of Consolidated Financial Statements as defined in paragraph (d) of the definition of “Consolidated Financial Statements”, Financial Year means the calendar year;
every partner of the partnership shall continue to be personally assessable and chargeable to tax for that Financial Year and for any previous
Financial Year before the conversion; and
the limited liability partnership shall be assessable and chargeable to tax for that Financial Year and for any previous Financial Year before the conversion.
Finance (No. 2)
Where the limited liability partnership is so assessable and chargeable under paragraph (3)(b), it shall be assessable and chargeable to tax in like manner and to the like amount as the company would have been assessed and charged to tax prior to the conversion.