Malaysia legislation

Section 29

of FINANCE ACT 2020

Section 29

Schedule 6 to the principal Act is amended by substituting for the proviso to subsubparagraph 15(1)(b) the following proviso:

(a)

this subsubparagraph shall apply to the payment made in respect of an individual who has ceased employment on or after 1 July 2008;

and

(b)

a further sum of ten thousand ringgit is allowed to be multiplied by the number of completed years of service in respect of an individual who has ceased employment on or after 1 January 2020 but not later than 31 December 2021.”.

Amendment of Schedule 7a