Malaysia legislation
Section 8
Section 8
Amendment of section 34a
(a)
in subsection (1)—
(i)
by inserting after the words “a person” the words
“resident in Malaysia”; and
(ii)
by inserting after the words “by the Minister”
the words “and the amount of expenses on research and development incurred during that period outside Malaysia shall not be more than thirty per cent of the total expenses on research and development incurred by that person”;
(b)
in subsection (4), by substituting for the proviso to that subsection the following proviso:
“Provided that the amount of deduction to be made shall be the amount of expenditure incurred—
(a)
where the amount of expenses on research and development incurred for the basis period for a year of assessment outside Malaysia is more
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than thirty per cent of the total expenses on research and development incurred by that person; or
(b)
where subsection (4a) applies.”; and
(c)
in subsection (4a), by inserting after the words “A pioneer company” the words “resident in Malaysia”.
Amendment of section 34b