Finance (No. 2) Act 2023 · Updated to 29 Dec 2023 · Chapter 19
34. Amendment of Schedule 7
Feedback & supportParagraph 16 of Schedule 7 to the principal Act is amended by substituting for the definition of “foreign income” the following definition:
‘ “foreign income” means, in relation to—
(a)
unilateral credit, income derived from outside Malaysia charged to foreign tax;
(b)
bilateral credit, income derived from outside Malaysia and from
Malaysia, charged to foreign tax.’.