Section 8
Crude oil sold and exported
of Petroleum (Income Tax) Act 1967
ActIn forceProvision 8 of 124
Section 8
Where in the relevant period the relevant chargeable person sells his chargeable petroleum consisting of crude oil, the proceeds of that sale shall be treated as gross income of that chargeable person for that period—
(a)
if that chargeable person delivers such crude oil in Malaysia and it is not shown to the satisfaction of the Director
General that such crude oil is refined in Malaysia; or
(b)
if that chargeable person exports such crude oil.