Section 27
of Petroleum (Income Tax) Act 1967
Section 27
Where under this Act the income of a chargeable person is assessable and chargeable to tax, that chargeable person shall, subject to this Part, be assessable and chargeable to tax in respect of that income.
(2)
Responsibility for doing all acts and things required to be done by or on behalf of a company or body of persons for the purposes of this Act shall lie jointly and severally—
(a)
in the case of a company, with—
(i)
the manager or other principal officer in Malaysia;
(ii)
the directors;
(iii)
the secretary; and
(iv)
any person (however styled) exercising the functions of any of the persons mentioned in the foregoing subparagraphs; and
(b)
in the case of a body of persons, with—
(i)
the manager;
(ii)
the treasurer;
(iii)
the secretary; and
(iv)
the members of its controlling authority.
(3)
The liquidator of a company which is being wound up shall not distribute any of the assets of the company to its shareholders unless
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he has made provision (in so far as he is able to do so out of the assets of the company) for the payment in full of any tax which he knows or might reasonably expect to be payable by the company under this Act.
(4)
Any liquidator who fails to comply with subsection (3) shall be liable to pay a penalty equal to the amount of the tax to which the failure relates.
(5)
Subsection 64(2) shall apply to a penalty imposed by subsection (4) of this section as it applies to a penalty imposed by subsection 51(3) or 52(2).