Malaysia legislation
Section 31
Section 31
New section 27p
The principal Act is amended by inserting before section 28
the following section:
“Determination of effective date and compliance for investment tax allowance 27p. (1) Any company which has been granted approval for an investment tax allowance under sections 27, 27a,
27c, 27d, 27e, 27f, 27g, 27i, 27j, 27k, 27m and 27n shall, within twenty-four months from the date of such grant or such extended period as the Minister may allow, request for the determination of the effective date of its investment tax allowance.
(2)
An application for an extension under subsection (1)
shall be made before the expiry of the period of twenty-four months or such extended period as the Minister may allow.
(3)
A company requesting for the determination of the effective date for its investment tax allowance under subsection (1) shall state the capital expenditure incurred by the company.
(4)
The capital expenditure referred to in subsection (3)
is as defined in subsections 29(7) and 29(8).
Promotion of Investments (Amendment)
(5)
Where a company has been granted the determination of the effective date for its investment tax allowance under subsection (1), the company shall, within the period of the investment tax allowance approved by the Minister of
Finance, provide the Minister of Finance with particulars as may be determined for the purposes of compliance of any of the conditions imposed.”.
Amendment of section 28