Section 5
Section 6 of the principal Act is amended—
(a)
in subsection (1)—
(i)
in paragraph (a), by substituting for the words
“section 6a” the words “sections 6a and 6d”;
(ii)
in paragraph (l), by substituting for the full stop at the end of that paragraph a semi colon; and
(iii)
by inserting after paragraph (l) the following paragraphs:
“(m) income tax shall be charged for each year of assessment upon the chargeable income of a person who carries on business in respect of a qualifying activity under an incentive scheme approved by the
Minister at the appropriate rate as specified in Part XVII of Schedule 1;
(n)
income tax shall be charged for each year of assessment upon the chargeable income of an individual resident who is not a citizen having and exercising employment in a company which carries on business in respect of a qualifying activity under an incentive scheme approved by the
Minister at the appropriate rate as specified in Part XVIII of Schedule 1.”; and
(b)
by inserting after subsection (1) the following subsection:
“(1a) An incentive scheme referred to in paragraphs (1)(m) and (n) shall be the incentive scheme for a qualifying activity prescribed by the Minister which includes—
(a)
any high technology activity in manufacturing and services sector; and
(b)
any other activities which would benefit the economy of Malaysia.”.
10
Act 831