Finance (No. 2) Act 2023 · Updated to 29 Dec 2023 · Chapter 19
32. Amendment of Schedule 3
Feedback & supportSubparagraph 19a(4) of Schedule 3 to the principal Act is amended—
(a)
in subsubparagraph (b), by deleting the word “or” at the end of the subsubparagraph;
(b)
in subsubparagraph (c), by substituting for the full stop at the end of the subsubparagraph the words “; or”; and
(c)
by inserting after subsubparagraph (c) the following subsubparagraph:
“(d) twenty per cent of the paid-up capital in respect of ordinary shares of the company at the beginning of the basis period for a year of assessment is directly or indirectly owned by one or more companies incorporated outside Malaysia or by one or more individuals who are not citizens of Malaysia.”.