Malaysia legislation

Section 24

of PROMOTION OF INVESTMENTS (AMENDMENT) ACT 2011

Section 24

"Company shall maintain statement for income computed during tax relief period

(a)

in subsection (3), by deleting the words " , if the Director General is satisfied with the entries in the exempt account,";

(b)

by substituting for subsection (5) the following subsection:

"(5)The company shall keep a copy of the exempt account until the Director General is satisfied that there is no further need to maintain the exempt account."; and

(c)

in subsection (6), by deleting the words " , to the extent that the Director General is satisfied that the dividends so paid are paid out of that amount,".

Amendment of section 24