Section 11
Section 21f of the principal Act is amended—
of Promotion of Investments (Amendment) Act 2014
(a)
by substituting for the shoulder note the following shoulder note:
“Computation of income during tax relief period in respect of pioneer status granted under subsection 6(1)
for an application under subsection 5(1d)”;
(b)
in subsection (1)—
(i)
by inserting after the words “testing laboratory” the words “or upgrading an existing medical devices testing laboratory in Malaysia,”; and
(ii)
by deleting the words “or a company participating in a promoted activity or producing a promoted product in an industrial linkage programme”;
and
(c)
in subsection (2)—
(i)
in paragraph (b), by substituting for the full stop at the end of the paragraph a colon; and
(ii)
by inserting the following proviso:
“Provided that in the case of a company that is already in operation and carries out activities in relation to the upgrading of a medical devices testing laboratory in Malaysia, the income of
Promotion of Investments (Amendment)
11
the company for each accounting period of its pioneer business shall be the value-added income of the company and subsections 21c(2a), (3)
and (4) shall apply mutatis mutandis.”.