Malaysia legislation
Section 6
Seksyen 6
Akta ibu dipinda dengan memasukkan selepas seksyen 6c yang dipotong seksyen yang berikut:
“Tax rebate for company or limited liability partnership 6d. (1) A rebate may be granted for a period of three consecutive years from the year of assessment in which a company or limited liability partnership first commences operation, in an amount equivalent to its operating or capital expenditure which it has incurred limited to a maximum amount of twenty thousand ringgit for each year of assessment.
(2)
Where the total amount of the rebate under subsection (1)
exceeds the income tax charged (before any such rebate)
for any year of assessment, the excess shall not be paid to the company or limited liability partnership, or be available as credit to set off the tax liability of the company or limited liability partnership for that year of assessment or any subsequent year.
(3)
The company or limited liability partnership referred to in subsection (1) shall be a company or limited liability partnership resident and incorporated or registered in Malaysia—
(a)
which has a paid-up capital in respect of ordinary shares or contribution of capital (whether in cash or in kind) of two million and five hundred thousand ringgit and less at the beginning of the basis period for a year of assessment;
Kewangan 11
(b)
which has a gross income from source or sources consisting of a business not exceeding fifty million ringgit for the basis period for that year of assessment;
and
(c)
which has commenced operation on or after 1 July 2020
but not later than 31 December 2021.
(4)
The Minister may, by statutory order, impose such conditions as he thinks fit to give effect to or for carrying out the purposes of this section.
(5)
Where in a year of assessment the company or limited liability partnership fails to fulfil the conditions specified in subsection (3) or (4), the amount of rebate under subsection (1)
shall not be granted for that year of assessment in which the failure occurs and in the subsequent years of assessment.
(6)
The statutory order made under subsection (4) shall be laid before the Dewan Rakyat.”.
Pindaan seksyen 34