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Income Tax Act 1967

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Enacted
1967
Sections
95

Income Tax Act 1967 is Malaysia Act, cited as Act 53 1967, currently marked in force and first recorded in 1967.

Large legislation

Contents

This Act is large; open any provision below to read its full text.

  1. PreambleAn Act for the imposition of income tax. [Throughout Malaysia—28 September 1967]
  2. Part I
  3. TextPRELIMINARY
  4. Section 1(1) This Act may be cited as the Income Tax Act 1967.
  5. Section 2Interpretation
  6. ScheduleSchedule 3, to a company which has a paid-up capital in respect of ordinary shares of two million five hundred thousand ringgit and less at...
  7. ScheduleSchedule 1; (g) (Deleted by Act 624); (h) income tax shall be charged for each year of assessment upon the chargeable income of a foreign f...
  8. ScheduleSchedule 1; (k) subject to section 109F but notwithstanding any other provisions of this Act, income tax shall be charged for each year of...
  9. ScheduleSchedule 1; (l) subject to section 109G but notwithstanding any other provisions of this Act, income tax shall be charged for a year of ass...
  10. ScheduleSchedule 1; (p) income tax shall be charged upon the income of a person who is a resident which is received in Malaysia from outside Malays...
  11. ScheduleSchedule 1; (q) income tax shall be charged upon the chargeable income of a company, limited liability partnership, trust body or co-operat...
  12. ScheduleSchedule 1; (r) notwithstanding anything contrary to this Act or any other written law, income tax shall be charged for each year of assess...
  13. ScheduleSchedule 1; Income Tax 45 (s) income tax shall be charged for each year of assessment upon the income of an individual, who is a partner of...
  14. ScheduleSchedule 2) is recovered by or on behalf of the relevant person in connection with a business of his which includes the working of a mine;...
  15. ScheduleSchedule 2; (ii) qualifying expenditure, qualifying agriculture expenditure or qualifying forest expenditure for the purposes of Schedule 3...
  16. ScheduleSchedule 4 or 4B; (c) next, by any deduction falling to be so made pursuant to subsection (6) or (6A); (d) next, by any deduction falling t...
  17. ScheduleSchedule 7A; (d) has made a claim for deduction in respect of an approved food production project under the Income Tax (Deduction for Inves...
  18. ScheduleSchedule 1. (3) Subject to this section, where a person has made an irrevocable election under subsection (4), the amount of the adjusted l...
  19. ScheduleSchedule 7A; (d) has made a claim for deduction in respect of an approved food production project under the Income Tax (Deduction for Inves...
  20. ScheduleSchedule 1. (2) As soon as any amount of chargeable income from the reinsurance business of an insurer (being a company) resident for the b...
  21. ScheduleSchedule 1. (22) As soon as any amount of chargeable income from the retakaful business of a takaful operator, being a company resident for...
  22. ScheduleSchedule 3 in respect of that source shall only be available against the adjusted income of that person from that source and if by reason o...
  23. ScheduleSchedule 1, the Director General may at any time within five years after the expiration of the year of assessment for which the rate prescr...
  24. ScheduleSchedule 6 in respect of income distributed to a unit holder other than an individual. (2) Where a unit trust, in this section referred to...
  25. ScheduleSchedule 7B. 406 PART X SUPPLEMENTAL Chapter 1—Administration The Director General and his staff 134. (1) There shall be a Director General...
  26. ScheduleSCHEDULE 1 [Section 6] Rates of Tax PART I 1. Except where paragraphs 1A, 2, 2A, 2D, 3 and 4 provide otherwise, income tax shall be charged...
  27. ScheduleSCHEDULE 2 [Section 34] Deductions for Capital Expenditure on Mines Qualifying mining expenditure 1. Subject to paragraph 2, qualifying min...
  28. ScheduleSchedule 9) in respect of any expenditure, and that expenditure has not been added to any aggregate income under paragraph 43(1)(c) pursuan...
  29. ScheduleSchedule 4, that expenditure shall be deemed not to be qualifying mining expenditure for the purposes of this Schedule. Deductions for qual...
  30. ScheduleSCHEDULE 3 [Section 42] Capital Allowances and Charges Qualifying expenditure 1. Subject to this Schedule, qualifying expenditure for the p...
  31. ScheduleSchedule 2. Qualifying agriculture expenditure 7. (1) Subject to this Schedule, qualifying agriculture expenditure for the purposes of this...
  32. ScheduleSchedule 2. 8B. For the purpose of paragraphs 8A and 32B of this Schedule renovation or refurbishment expenditure shall be an expenditure p...
  33. ScheduleSCHEDULE 4 [Sections 43 and 44] Expenditure on Prospecting Operations 1. Qualifying prospecting expenditure for the purposes of this Schedu...
  34. ScheduleSCHEDULE 4A [Sections 43 and 44] (Deleted by Act 644)
  35. ScheduleSCHEDULE 4B [Sections 43 and 44] Qualifying Pre-Operational Business Expenditure 1. Qualifying pre-operational business expenditure for pur...
  36. ScheduleSCHEDULE 4C [Sections 44] (Deleted by Act 644)
  37. ScheduleSCHEDULE 5 [Section 102] Appeals Hearing of appeals 1. (1) Every appeal shall be heard by three Special Commissioners, at least one of whom...
  38. ScheduleSCHEDULE 6 [Section 127] Exemption from tax PART I INCOME WHICH IS EXEMPT 1. The official emoluments of a Ruler or Ruling Chief as defined...
  39. ScheduleSCHEDULE 7 [Sections 132 and 133] Double Taxation Relief Bilateral credit 1. Subject to this Schedule, the amount of Malaysian tax payable...
  40. ScheduleSCHEDULE 7A [Section 133A] Reinvestment Allowance 1. Subject to this Schedule, where a company which is resident in Malaysia— (a) has been...
  41. ScheduleSchedule 3; “manufacturing” means— (a) conversion by manual or mechanical means of organic or inorganic materials into a new product by cha...
  42. ScheduleSCHEDULE 7B [Section 133A] Investment Allowance for Service Sector 1. Where a company which is resident in Malaysia for the basis year for...
  43. ScheduleSchedule 3.
  44. ScheduleSCHEDULE 8 [Section 155] Repeals No. and year Short title Extent of repeal 29 of 1956 Income Tax Ordinance 1956 of Sabah The whole Income T...
  45. ScheduleSCHEDULE 9 [Section 156] Transitional and Saving Provisions PART I General Interpretation 1. (1) In this Schedule— “pre-basis period”, in r...
  46. ScheduleSchedule 2:6 41. For the purposes of Schedule 2, where the operator owned an asset at the beginning of the basis period for the year of ass...
  47. ScheduleSchedule 2:15 42. Paragraph 15 of Schedule 2 shall not apply where the operator (within the meaning of that Schedule) permanently ceases to...
  48. ScheduleSchedule 2:22 43. Where any capital expenditure is included by virtue of paragraph 41 in the total qualifying mining expenditure mentioned...
  49. ScheduleSchedule 3:5 44. For the purposes of paragraph 5 of Schedule 3 in its relation to a building, in any case where the expenditure on the cons...
  50. ScheduleSchedule 3:10, 11 and 22 45. (1) Where in a case to which paragraph 10 or 11 of Schedule 3 or subparagraph (2) of this paragraph applies th...
  51. ScheduleSchedule 3:23 46. (1) For the purposes of paragraph 23 of Schedule 3, where in the basis period for the year of assessment 1967 under any r...
  52. ScheduleSchedule 3:26 47. For the purposes of paragraph 26 of Schedule 3, if any sum as therein mentioned falls into charge to tax imposed under th...
  53. ScheduleSchedule 3:27 48. (1) Paragraph 27 of Schedule 3 shall not apply in relation to a person, an asset or a business of his where, under subsec...
  54. ScheduleSchedule 3:35 49. Paragraph 35 of Schedule 3 shall not apply to an asset disposed of by a person if a balancing charge in relation to that...
  55. ScheduleSchedule 3:36 50. In the application of paragraph 36 of Schedule 3 to a person and an asset, if the asset is disposed of by him in the basi...
  56. ScheduleSchedule 3:37 51. In the application of paragraph 37 of Schedule 3 to a person and an asset, there shall be included in the total therein m...
  57. ScheduleSchedule 3:39 and 40 52. Paragraphs 39 and 40 of Schedule 3 shall not apply to an asset disposed of if a balancing allowance or charge in r...
  58. ScheduleSchedule 3:40 and 41 53. Rules made under paragraph 40 or 41 of Schedule 3 may be made applicable for transitional purposes to any repealed...
  59. ScheduleSchedule 3:42 54. Paragraph 42 of Schedule 3 shall not apply to a building constructed prior to the basis period for the year of assessment...
  60. ScheduleSchedule 3:57 55. Where in relation to an asset and a business of a person the period of any disuse for the purposes of paragraph 57 of Sch...
  61. ScheduleSchedule 3:68 56. (1) Subject to this paragraph, in the application of paragraph 68 of Schedule 3 in relation to an asset and a person as t...
  62. ScheduleSchedule 3. Income Tax 689 (3) In the application of subparagraphs (1) and (2) in relation to a person and an asset if, but for this subpar...
  63. ScheduleSchedule 3:69 57. Where for the purpose of this Schedule and Schedule 3 it is necessary to have regard to an allowance made under any repea...
  64. ScheduleSchedule 3:75 58. (1) In relation to a person, an asset and a business of his, if effect cannot be given or cannot be given in full to any...
  65. ScheduleSchedule 3: general 59. Unless the context otherwise requires and subject to this Schedule, any reference in Schedule 3 to expenditure incl...
  66. ScheduleSchedule 4 60. (1) Subject to this paragraph, where in any case a person makes a claim under
  67. ScheduleSchedule 4 for a deduction for a year of assessment in respect of qualifying prospecting expenditure, then, for the purposes of applying th...
  68. ScheduleSchedule 5 61. Where a notice of appeal against an assessment is given under the Sabah Ordinance or the West Malaysian Ordinance or a notic...
  69. ScheduleSchedule 6) Order 1969 12-12-1969 Emergency (Essential Powers) Ordinance No. 38, 1970 (Various dates as per Schedule to the Ordinance) Act...
  70. ScheduleSchedule 6 Assessment year 1973 and subsequent years P.U. (A) 267/1974 Amendment to Part
  71. ScheduleSchedule 6 Assessment year 1968 and subsequent years P.U. (A) 328/1974 Amendment to Part
  72. ScheduleSchedule 6 Assessment year 1963 and subsequent years Act A225 1. Income Tax (Amendment) Act 1974 Sections 2 and 3— 01-01-1974 2. Remaining...
  73. ScheduleSchedule 6 Assessment year 1976 and subsequent years P.U. (B) 186/1977 Amendment to Part
  74. ScheduleSchedule 6 Assessment year 1973 and subsequent years P.U. (B) 187/1977 Amendment to Part
  75. ScheduleSchedule 6 Assessment year 1968 and subsequent years P.U. (B) 363/1977 Amendment to Part
  76. ScheduleSchedule 6 01-12-1974 P.U. (B) 364/1977 Amendment to Part
  77. ScheduleSchedule 6 Assessment year 1973 P.U. (B) 365/1977 Amendment to Part
  78. ScheduleSchedule 6 Assessment year 1977 1. Income Tax (Amendment) Act 1977 Paragraph 2(b) and section 8— 01-01-1977 2. Remaining provisions— Assess...
  79. ScheduleSchedule 6 Assessment year 1977 and subsequent years P.U. (B) 423/1979 Amendment to Part
  80. ScheduleSchedule 6 Assessment year 1980 Income Tax (Amendment) Act 1980 1. Section 3— Assessment year 1978 and subsequent years 2. Section 16— Asse...
  81. ScheduleSchedule 3 as inserted by paragraph 8(k)— Assessment year 2002 and subsequent years of assessment 4. Paragraphs 37G and 37H of
  82. ScheduleSchedule 3 as Inserted by paragraph 8(k)— Assessment year 2001 and subsequent years 5. Paragraph 10(d)— Assessment year 1998 and subsequent...
  83. ScheduleSchedule 1 to the Income Tax Act 1967 come into operation from 01-01-2022 until 30-06-2022 4. Section 8 is deemed to have effect for the ye...
  84. ScheduleSchedule 1 Act A32 Year of assessment 1971 and subsequent years of assessment Year of assessment 1973 and subsequent years of assessment Ye...
  85. ScheduleSchedule 2 Act 77/1967 14-12-1967 Year of assessment 1974 and subsequent years of assessment Year of assessment 1978 and subsequent years o...
  86. ScheduleSchedule 3 Act 77/1967 14-12-1967 Year of assessment 1968 and subsequent years of assessment Act 764 Year of assessment 2015 and subsequent...
  87. ScheduleSchedule 3 to the Income Tax Act 1967–Year of assessment 2002 and 840 Act 53 Section Amending authority In force from subsequent years of a...
  88. ScheduleSchedule 3 to the Income Tax Act 1967–Year of assessment 2001 and subsequent years of assessment para. 25(a) and subpara. 25(b)(ii)–Year of...
  89. ScheduleSchedule 4 Act 77/1967 14-12-1967 Year of assessment 1968 and subsequent years of assessment Year of assessment 1980 and subsequent years o...
  90. ScheduleSchedule 4A Act 364 Year of assessment 1989 and subsequent years of assessment Act 420 Year of assessment 1989 and subsequent years of asse...
  91. ScheduleSchedule 4B Act 451 Year of assessment 1992 and subsequent years of assessment Act 742 Year of assessment 2012 and subsequent years of asse...
  92. ScheduleSchedule 4C Act 591 Year of assessment 2000 and subsequent years of assessment Act 608 Year of assessment 2001 and subsequent years of asse...
  93. ScheduleSchedule 5 Act 77/1967 14-12-1967 Act A225 01-03-1974 Act A434 01-07-1978 Act 328 24-10-1986 Act 451 14-12-1990 Act 600 16-06-2000 Act 683...
  94. ScheduleSchedule 6 Act 77/1967 14-12-1967 Year of assessment 1968 and subsequent years of assessment P.U. (B) 146/1969 10-12-1969 P.U. (A) 510/1969...
  95. ScheduleSchedule 7 Year of assessment 1974 and subsequent years of assessment Act 591 Year of assessment 1999 and subsequent years of assessment Ac...
  96. ScheduleSchedule 7A Year of assessment 1980 and subsequent years of assessment Year of assessment 1980 and subsequent years of assessment Act 274 Y...
  97. ScheduleSchedule 7B Act 544 Year of assessment 1996 and subsequent years of assessment Act 702 Year of assessment 2010 and subsequent years of asse...
  98. ScheduleSchedule 9 Act 77/1967 14-12-1967 P.U. 144/1968 14-12-1967 Year of assessment 1968 and subsequent years of assessment Year of assessment 19...

Common questions

What is Income Tax Act 1967?
Income Tax Act 1967 is Malaysia Act, cited as Act 53 1967, currently marked in force and first recorded in 1967.
Is Income Tax Act 1967 still in force?
Yes — Income Tax Act 1967 is currently in force.
When did Income Tax Act 1967 take effect?
Income Tax Act 1967 was first recorded in 1967.
How many schedules does Income Tax Act 1967 have?
Income Tax Act 1967 contains 93 schedules.
Where can I read the official version of Income Tax Act 1967?
The official text of Income Tax Act 1967 is published at lom.agc.gov.my.

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