Seksyen 34B
Seksyen 34B
(a)
contribution in cash to an approved research institute; or
(b)
payment for the use of the services of an approved research institute or an approved research company.
(2)
The amount of deduction to be made under subsection (1) shall be twice the amount of expenditure, not being capital expenditure, referred to in that subsection.
(3)
Where any deduction in respect of expenditure referred to in subsection (1) is made under this section, no deduction in respect of that expenditure shall be made under section 33, 34 or $ 3 4 ^{A} $ .
(4)
In this section—
(a)
an "approved research institute" means an institute, including a company licensed under section 24 of the Companies Act 1965, approved by the Minister to wholly carry on research in an industry specified in the approval and to commercially exploit the benefit of such research thereof;
(b)
an "approved research company" means a company, other than a company licensed under section 24 of the Companies Act 1965, approved by the Minister to wholly carry on research in an industry specified in the approval and to commercially exploit the benefit of such research thereof."
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