Is PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 still in force?

Yes — PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 is currently in force.

How many sections does PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 have?

PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 contains 5 sections.

/akn/my/act/pua/2022/116

PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022

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Type: P.U. (A)
Status: In force
Enacted: 2022
Sections: 5

Quick answer

About this p.u. (a)

PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 is Malaysia P.U. (A), cited as P.U. (A) 116 2022, currently marked in force and first recorded in 2022.

Opening note

Preamble

PADA menjalankan kuasa yang diberikan oleh perenggan 127(3)(b) Akta Cukai Pendapatan 1967 [Akta 53], Menteri membuat perintah yang berikut: Nama dan permulaan kuat kuasa

Seksyen 1

(1)

Perintah ini bolehlah dinamakan

Perintah

Cukai

Pendapatan

(Pengecualian) (No. 3) 2022.

(2)

Perintah ini disifatkan telah mula berkuat kuasa mulai tahun taksiran 2018.

Pengecualian

Seksyen 2

(1)

Menteri mengecualikan suatu syarikat pengurusan modal teroka daripada pembayaran cukai pendapatan berkenaan dengan pendapatan berkanun yang diperolehi daripada pengurusan dana syarikat modal teroka yang diterima oleh syarikat pengurusan modal teroka itu daripada suatu syarikat modal teroka itu sebagaimana yang dinyatakan dalam suatu perjanjian berkenaan pengurusan pelaburan syarikat modal teroka yang dibuat antara syarikat tersebut berhubung dengan—

(a)

bahagian keuntungan;

(b)

fi pengurusan; dan

(c)

fi prestasi termasuk bonus prestasi dan faedah dibawa.

(2)

Pengecualian yang disebut dalam subperenggan (1) adalah bagi tempoh mulai tahun taksiran 2018 hingga tahun taksiran 2026 (selepas ini disebut sebagai

“tempoh pengecualian”).

P.U. (A) 116 3

(3)

Dalam perenggan ini—

(a)

“Suruhanjaya Sekuriti Malaysia” ertinya Suruhanjaya Sekuriti

Malaysia yang ditubuhkan di bawah seksyen 3 Akta Suruhanjaya

Sekuriti Malaysia 1993 [Akta 498];

(b)

“syarikat modal teroka” ertinya suatu syarikat yang—

(i)

diperbadankan di bawah Akta Syarikat 2016 [Akta 777]

dan berdaftar dengan Suruhanjaya Sekuriti Malaysia;

(ii)

melabur dalam satu atau lebih dari satu syarikat teroka dalam bentuk pembiayaan modal benih, pembiayaan permulaan atau pembiayaan peringkat awal; dan

(iii)

yang telah mendapat perakuan daripada Suruhanjaya

Sekuriti Malaysia bahawa syarikat itu mematuhi syarat untuk layak bagi pengecualian di bawah Perintah Cukai

Pendapatan (Pengecualian) (No. 2) 2022.

(c)

“syarikat pengurusan modal teroka” ertinya suatu syarikat yang—

(i)

berdaftar dengan Suruhanjaya Sekuriti Malaysia; dan

(ii)

telah disahkan oleh Suruhanjaya Sekuriti Malaysia bahawa, bagi setiap tahun taksiran yang syarikat pengurusan modal teroka itu dikecualikan daripada pembayaran cukai pendapatan di bawah perenggan ini, syarikat itu—

(A)

mempunyai bilangan pekerja sepenuh masa yang mencukupi di Malaysia; dan

P.U. (A) 116 4

(B)

melakukan perbelanjaan operasi tahunan yang mencukupi di Malaysia.

Kerugian

Seksyen 3

Jika suatu syarikat pengurusan modal teroka mengalami suatu kerugian daripada pengurusan dana syarikat modal teroka dalam suatu tempoh asas bagi mana-mana tahun taksiran dalam tempoh pengecualian, kerugian berkenaan hendaklah—

(a)

dibawa kepada tahun taksiran berikutnya selepas tamat tempoh pengecualian; dan

(b)

dipotong daripada pendapatan berkanun yang diperolehi daripada pengurusan dana syarikat modal teroka sebagaimana yang dinyatakan dalam subperenggan 2(1).

Akaun berasingan

Seksyen 4

(1)

Syarikat pengurusan modal teroka hendaklah menyenggara suatu akaun yang berasingan bagi pendapatan yang diperoleh daripada pengurusan dana syarikat modal teroka yang disebut dalam perenggan 2 dalam tempoh asas bagi setiap tahun taksiran.

(2)

Bagi maksud

Perintah ini, pendapatan yang disebut dalam subperenggan (1) hendaklah dianggap sebagai suatu sumber perniagaan yang berasingan dan berlainan bagi syarikat pengurusan modal teroka itu.

Pembatalan, kecualian dan peralihan

Seksyen 5

(1)

Perintah

Cukai

Pendapatan

(Pengecualian)

(No.

12)

2005

[P.U. (A) 77/2005], yang disebut sebagai “Perintah yang dimansuhkan” dalam perenggan ini, dibatalkan berkuat kuasa dari tahun taksiran 2018.

P.U. (A) 116 5

(2)

Jika suatu syarikat pengurusan modal teroka telah diberi pengecualian di bawah Perintah yang dimansuhkan, maka pengecualian sedemikian itu hendaklah terus kekal berkuat kuasa bagi baki tahun taksiran dalam tempoh pengecualian syarikat pengurusan modal teroka itu seolah-olah Perintah yang dimansuhkan itu tidak dibatalkan oleh Perintah ini.

(3)

Apa-apa permohonan bagi pengecualian di bawah Perintah yang dimansuhkan yang masih belum diputuskan pada tarikh kuat kuasa Perintah ini hendaklah, pada tarikh itu, terhenti daripada diperlakukan di bawah Perintah yang dimansuhkan dan hendaklah diperlakukan di bawah Perintah ini.

Dibuat 13 April 2022

[MOF.TAX(S)700-2/7/695; LHDN.AY.A.600-12/1/7(29)-169; PN(PU2)80/JLD. 105]

TENGKU DATUK SERI UTAMA ZAFRUL BIN TENGKU ABDUL AZIZ

Menteri Kewangan

[Akan dibentangkan di hadapan Dewan Rakyat menurut subseksyen 127(4)

Akta Cukai Pendapatan 1967]

P.U. (A) 116 6

INCOME TAX ACT 1967

INCOME TAX (EXEMPTION) (NO. 3) ORDER 2022

Opening note

Preamble

IN exercise of the powers conferred by paragraph 127(3)(b) of the Income Tax Act 1967 [Act 53], the Minister makes the following order: Citation and commencement 1.

(1)

This order may be cited as the Income Tax (Exemption) (No. 3)

Order 2022.

(2)

This Order is deemed to have effect from the year of assessment 2018.

Exemption 2.

(1)

The Minister exempts a venture capital management company from the payment of income tax in respect of the statutory income derived from the management of venture capital company fund received by the venture capital management company from a venture capital company as stipulated in the agreement on the management of the investment of the venture capital company entered into between the said company in relation to—

(a)

share of profits;

(b)

management fee; and

(c)

performance fee including performance bonus and carried interest.

(2)

The exemption referred to in subparagraph (1) shall be for a period from the year of assessment 2018 until the year of assessment 2026 (hereinafter referred to as “the exemption period”).

P.U. (A) 116 7

(3)

In this paragraph—

(a)

“Securities Commission Malaysia” means the Securities Commission

Malaysia established under section 3

of the

Securities Commission Malaysia Act 1993 [Act 498];

(b)

“venture capital company” means a company which—

(i)

is incorporated under the Companies Act 2016 [Act 777] and registered with the Securities Commission Malaysia;

(ii)

invests in one or more than one venture company in the form of seed capital financing, start-up financing or early stage financing; and

(iii)

has obtained certification from the Securities Commission

Malaysia that the company has complied with the conditions to qualify for the exemption under the Income Tax

(Exemption) (No. 2) Order 2022;

(c)

“venture capital management company” means a company which—

(i)

is registered with the Securities Commission Malaysia; and

(ii)

has been verified by the Securities Commission Malaysia that, for each year of assessment in which the venture capital management company is exempted from payment of income tax under this paragraph, the company—

(A)

has an adequate number of full-time employees in

Malaysia; and

P.U. (A) 116 8

(B)

has incurred an adequate amount of annual operating expenditure in Malaysia.

Losses 3.

Where a venture capital management company incurs a loss from the management of venture capital company fund in the basis period for any year of assessment in the exemption period, such loss shall be—

(a)

carried forward to the year of assessment following the post-exemption period; and

(b)

deducted from the statutory income derived from the management of venture capital company fund as specified in subparagraph 2(1).

Separate account 4.

(1)

The venture capital management company shall maintain a separate account for the income derived from the management of the venture capital company fund referred to in paragraph 2 in the basis period for each year of assessment.

(2)

For the purpose of this Order, the income referred to in subparagraph (1)

shall be treated as a separate and distinct source of business for the venture capital management company.

Revocation, savings and transitional 5.

(1)

The Income Tax (Exemption) (No. 12) Order 2005 [P.U. (A) 77/2005], which is referred to as the “repealed Order” in this paragraph, is revoked with effect from the year of assessment 2018.

(2)

Where a venture capital management company has been granted an exemption under the repealed Order, such exemption shall continue to remain in effect for the remainder year of assessment in the exemption period of that venture capital management company as if the repealed Order was not revoked by this Order.

P.U. (A) 116 9

(3)

Any application for an exemption under the repealed Order which is pending on the date of the coming into operation of this Order shall, on that date, cease to be dealt with under the repealed Order and shall be dealt with under this Order.

Made 13 April 2022

[MOF.TAX(S)700-2/7/695; LHDN.AY.A.600-12/1/7(29)-169; PN(PU2)80/JLD. 105]

TENGKU DATUK SERI UTAMA ZAFRUL BIN TENGKU ABDUL AZIZ

Minister of Finance

[To be laid before the Dewan Rakyat pursuant to subsection 127(4) of the Income Tax Act 1967]

Common questions

What is PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022?: PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 is Malaysia P.U. (A), cited as P.U. (A) 116 2022, currently marked in force and first recorded in 2022.
Is PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 still in force?: Yes — PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 is currently in force.
When did PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 take effect?: PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 was first recorded in 2022.
How many sections does PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 have?: PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 contains 5 sections.
Where can I read the official version of PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022?: The official text of PERINTAH CUKAI PENDAPATAN (PENGECUALIAN) (NO. 3) 2022 is published at lom.agc.gov.my.