INCOME TAX (ACCELERATED CAPITAL ALLOWANCES) (REINVESTMENT IN A QUALIFYING PROJECT) RULES 2000
IN exercise of the powers conferred by paragraph 154(1) (b) and section 42 of the Income Tax Act 1967 [Act 53], the Minister makes the following rules:
Citation and commencement
1. (1) These rules may be cited as the Income Tax (Accelerated Capital Allowances) (Reinvestment In a Qualifying Project) Rules 2000.
(2) These Rules shall have effect from the year of assessment 2001.
Application
2. These Rules shall apply in respect of the qualifying plant expenditure incurred on the provision of plant or machinery for the purposes of a qualifying project in respect of a promoted activity or a promoted product or an agricultural project and used for the purposes of the business.
Interpretation
3. For the purposes of these Rules-
"promoted activity or promoted product" means any activity or product promoted under section 4 of the Promotion of Investments Act 1986 [Act 327];
"qualifying plant expenditure" means capital expenditure incurred under paragraph 2 of Schedule 3 to the Act;
"agricultural project" has the meaning as defined under paragraph 8(c) in respect of activities listed under paragraph 9(aa) until (ff) of Schedule 7A to the Act;
"qualifying project" has the meaning as defined under paragraph 8(a) of Schedule 7A to the Act.
Initial allowance
4. The initial allowance under paragraph 10 of Schedule 3 to the Act shall be equal to two-fifths of the qualifying plant expenditure.
Annual allowance
5. The annual allowance under paragraph 15 of Schedule 3 to the Act shall be equal to one-fifth of the qualifying plant expenditure.
Non-application
6. These Rules shall not apply to a company -
(a) for the period during which the company has been granted reinvestment allowance under Schedule 7A to the Act;
(b) for the period during which the company has been given granted pioneer status or investment tax allowance under the Promotion of Investments Act 1986 in respect of the same promoted activity or promoted product;
(c) for the year of assessment in which it fails to submit a copy of the letter from the Malaysian Industrial Development Authority confirming the promoted activity or promoted product undertaken in respect of a qualifying project.
Made 29 December 2000.
[Perb. CR (8. 20) 116/1-138 (2001) Vol. 3 (SK. 1) ; LHDN. 01/35/(S) /42/51/231-2; PN (PU2) 80/XXIX]
On behalf and in the name of the Minister of Finance,
CHAN KONG CHOY
Deputy Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 127(4) of the Income Tax Act 1967]
INCOME TAX (ACCELERATED CAPITAL ALLOWANCES) (RECYCLING OF WASTES) RULES 2000
INCOME TAX (ACCELERATED CAPITAL ALLOWANCES) (RECYCLING OF WASTES) RULES 2000
IN exercise of the powers conferred by paragraph 154(1) (b) and section 42 of the Income Tax Act 1967 [Act 53], the Minister makes the following rules:
Citation and commencement
1. (1) These rules may be cited as the Income Tax (Accelerated Capital Allowances) (Recycling Of Wastes) Rules 2000.
(2) These Rules shall have effect from the year of assessment 2001.
Application
2. These Rules shall apply in respect of the qualifying plant expenditure incurred on the provision of plant or machinery for the purposes of the business of a manufacturing company which are used exclusively or otherwise for the recycling of wastes or for the further processing of the wastes into a finished product.
Interpretation
3. For the purposes of these Rules, "qualifying plant expenditure" means capital expenditure incurred under paragraph 2 Schedule 3 to the Act.
Initial allowance
4. The initial allowance under paragraph 10 of Schedule 3 to the Act shall be equal to two-fifths of the qualifying plant expenditure.
Annual allowance
5. The annual allowance under paragraph 15 of Schedule 3 to the Act shall be equal to one-fifth of the qualifying plant expenditure.
Non-application
6. These Rules shall not apply to a company -
(a) for the period during which the company has been granted any incentives (except for deductions for promotion of exports) under the Promotion of Investment Act 1986 [Act 327];
(b) for the period during which the company has been given reinvestment allowance under Schedule 7A to the Act.
Made 29 December 2000.
[Perb. CR (8. 20) 116/1-138 (2001) Vol. 3 (SK. 1) ; LHDN. 01/35/(S) /42/51/231-19; PN (PU2) 80/XXIX]
On behalf and in the name of the Minister of Finance,
CHAN KONG CHOY
Deputy Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 154(2) of the Income Tax Act 1967]
IN exercise of the powers conferred by paragraph 154(1) (b) and section 42 of the Income Tax Act 1967 [Act 53], the Minister makes the following rules:
Citation and commencement
1. (1) These rules may be cited as the Income Tax (Accelerated Capital Allowances) (Recycling Of Wastes) Rules 2000.
(2) These Rules shall have effect from the year of assessment 2001.
Application
2. These Rules shall apply in respect of the qualifying plant expenditure incurred on the provision of plant or machinery for the purposes of the business of a manufacturing company which are used exclusively or otherwise for the recycling of wastes or for the further processing of the wastes into a finished product.
Interpretation
3. For the purposes of these Rules, "qualifying plant expenditure" means capital expenditure incurred under paragraph 2 Schedule 3 to the Act.
Initial allowance
4. The initial allowance under paragraph 10 of Schedule 3 to the Act shall be equal to two-fifths of the qualifying plant expenditure.
Annual allowance
5. The annual allowance under paragraph 15 of Schedule 3 to the Act shall be equal to one-fifth of the qualifying plant expenditure.
Non-application
6. These Rules shall not apply to a company -
(a) for the period during which the company has been granted any incentives (except for deductions for promotion of exports) under the Promotion of Investment Act 1986 [Act 327];
(b) for the period during which the company has been given reinvestment allowance under Schedule 7A to the Act.
Made 29 December 2000.
[Perb. CR (8. 20) 116/1-138 (2001) Vol. 3 (SK. 1) ; LHDN. 01/35/(S) /42/51/231-19; PN (PU2) 80/XXIX]
On behalf and in the name of the Minister of Finance,
CHAN KONG CHOY
Deputy Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 154(2) of the Income Tax Act 1967]
INCOME TAX (EXEMPTION) (NO. 55) ORDER 2000
INCOME TAX (EXEMPTION) (NO. 55) ORDER 2000
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. 55) Order 2000.
(2) This Order shall be deemed to have come into operation from 23 October 1998 until 31 December 2000 and shall have effect from the year of assessment 1999 until the year of assessment 2000 in respect of the basis period ending in the year 2000.
Interpretation
2. For the purpose of this Order-
"exhibition, festival or conference" means an exhibition, festival or conference organized with the participation of foreign nationals;
"promoter" means a company incorporated under the Companies Act 1965 [Act 125], or an association or organization registered under the Societies Act 1966 [Act 335];
"games or sports competition of international standard" means any sporting event or recreational activity approved by the Ministry of Youth and Sports and organized in any form with the participation of foreign nationals from a number of countries;
"cultural or arts show" means a stage performance approved by the Ministry of Culture, Arts and Tourism and organized with the participation of foreign nationals who have made at least three performances in foreign countries other than their own;
"foreign national" means an individual who is not a Malaysian citizen.
Exemption
3. (1) The Minister exempts-
(a) a foreign national from the payment of income tax in respect of the gross income derived from participating in any cultural or arts show, exhibition, festival or conference or games or sports competition of international standard; and
(b) a promoter of any cultural or arts show, exhibition, festival or conference or games or sports competition of international standard from the payment of income tax on 50 per cent of the statutory income derived from the organization of such activities.
(2) The exemption in subparagraph (1) shall apply only if the cultural or arts show, exhibition, festival or conference or games or sports competition of international standard referred to in subparagraph (1) is held in Malaysia at the National Sports Complex, National Theatre, National Art Gallery or Petronas Philharmonic Hall.
(3) Nothing in this paragraph shall absolve or be deemed to have absolved the foreign national or the promoter from complying with any requirement to submit any return or statement of accounts or to furnish any other information under the provisions of the Act.
Keeping of separate accounts
4. A promoter seeking an exemption under sub-subparagraph 3(1)(b) shall maintain a separate account for the income derived from the organization of any cultural or arts show, exhibition, festival or conference or games or sports competition of international standard in Malaysia.
Application of paragraphs 5 and 6 of Schedule 7A
5. In relation to a company, paragraphs 5 and 6 of Schedule 7A to the Act shall apply, mutatis mutandis, to the amount of income exempted under sub-subparagraph 3(1) (b) .
Made 22 December 2000.
[Perb. CR (8. 20) 116/1-138 (SJ. 17) Vol. 2 (SK. 3) ; LHDN. 01/35/(S) /42/51/231-4; PN(PU2) 80/XXIX]
On behalf and in the name of the Minister of Finance,
CHAN KONG CHOY
Deputy Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 127(4) of the Income Tax Act 1967]
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. 55) Order 2000.
(2) This Order shall be deemed to have come into operation from 23 October 1998 until 31 December 2000 and shall have effect from the year of assessment 1999 until the year of assessment 2000 in respect of the basis period ending in the year 2000.
Interpretation
2. For the purpose of this Order-
"exhibition, festival or conference" means an exhibition, festival or conference organized with the participation of foreign nationals;
"promoter" means a company incorporated under the Companies Act 1965 [Act 125], or an association or organization registered under the Societies Act 1966 [Act 335];
"games or sports competition of international standard" means any sporting event or recreational activity approved by the Ministry of Youth and Sports and organized in any form with the participation of foreign nationals from a number of countries;
"cultural or arts show" means a stage performance approved by the Ministry of Culture, Arts and Tourism and organized with the participation of foreign nationals who have made at least three performances in foreign countries other than their own;
"foreign national" means an individual who is not a Malaysian citizen.
Exemption
3. (1) The Minister exempts-
(a) a foreign national from the payment of income tax in respect of the gross income derived from participating in any cultural or arts show, exhibition, festival or conference or games or sports competition of international standard; and
(b) a promoter of any cultural or arts show, exhibition, festival or conference or games or sports competition of international standard from the payment of income tax on 50 per cent of the statutory income derived from the organization of such activities.
(2) The exemption in subparagraph (1) shall apply only if the cultural or arts show, exhibition, festival or conference or games or sports competition of international standard referred to in subparagraph (1) is held in Malaysia at the National Sports Complex, National Theatre, National Art Gallery or Petronas Philharmonic Hall.
(3) Nothing in this paragraph shall absolve or be deemed to have absolved the foreign national or the promoter from complying with any requirement to submit any return or statement of accounts or to furnish any other information under the provisions of the Act.
Keeping of separate accounts
4. A promoter seeking an exemption under sub-subparagraph 3(1)(b) shall maintain a separate account for the income derived from the organization of any cultural or arts show, exhibition, festival or conference or games or sports competition of international standard in Malaysia.
Application of paragraphs 5 and 6 of Schedule 7A
5. In relation to a company, paragraphs 5 and 6 of Schedule 7A to the Act shall apply, mutatis mutandis, to the amount of income exempted under sub-subparagraph 3(1) (b) .
Made 22 December 2000.
[Perb. CR (8. 20) 116/1-138 (SJ. 17) Vol. 2 (SK. 3) ; LHDN. 01/35/(S) /42/51/231-4; PN(PU2) 80/XXIX]
On behalf and in the name of the Minister of Finance,
CHAN KONG CHOY
Deputy Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 127(4) of the Income Tax Act 1967]
INCOME TAX (EXEMPTION) (NO. 53) ORDER 2000
INCOME TAX (EXEMPTION) (NO. 53) ORDER 2000
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. 53) Order 2000.
(2) This Order shall be deemed to have effect from the year of assessment 1997.
Interpretation
2. For the purpose of this Order-
"statutory income derived from organising conferences held in Malaysia" means fees and other payments received by a company, an association or an organisation in performing its duties as a conference promoter less allowable expenses for tax purposes and capital allowances, if any;
"conference promoter" means a company incorporated under the Companies Act 1965 [Act 125], or an association or organisation registered under the Societies Act 1966 [Act 335] performing the duties of promoting and organising conferences including the arranging of accomodation, tours and sightseeing for foreign participants;
"foreign participants" means individuals who are non-Malaysian citizens participating in conferences held in Malaysia, but does not include individuals who are non-Malaysian citizens who reside in Malaysia.
Exemption
3. (1) The Minister exempts a conference promoter resident in Malaysia from the payment of income tax in respect of the statutory income derived from organising conferences held in Malaysia.
(2) The exemption in subparagraph (1) shall not apply if the total number of foreign participants brought in by that conference promoter for conferences held in Malaysia is less than five hundred in the basis period for a year of assessment.
(3) Nothing in subparagraph (1) shall absolve or be deemed to have absolved the conference promoter from complying with any requirement to submit any return or statement of accounts or to furnish any other information under the provisions of the Act.
Keeping of separate accounts
4. A conference promoter seeking exemption under paragraph 3 shall maintain a separate account for the income derived from organising conferences held in Malaysia.
Application of paragraphs 5 and 6 of Schedule 7A
5. In relation to a company, paragraphs 5 and 6 of Schedule 7A to the Act shall apply, mutatis mutandis, to the amount of income exempted under paragraph 3.
Made 14 December 2000.
[Perb. 0. 3865/73 (SJ. 39) ; LHDN. 01/35/(S) /42/51/231-2; PN(PU2) 80/XXIX]
On behalf and in the name of the Minister of Finance;
CHAN KONG CHOY
Deputy Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 127(4) of the Income Tax Act 1967]
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. 53) Order 2000.
(2) This Order shall be deemed to have effect from the year of assessment 1997.
Interpretation
2. For the purpose of this Order-
"statutory income derived from organising conferences held in Malaysia" means fees and other payments received by a company, an association or an organisation in performing its duties as a conference promoter less allowable expenses for tax purposes and capital allowances, if any;
"conference promoter" means a company incorporated under the Companies Act 1965 [Act 125], or an association or organisation registered under the Societies Act 1966 [Act 335] performing the duties of promoting and organising conferences including the arranging of accomodation, tours and sightseeing for foreign participants;
"foreign participants" means individuals who are non-Malaysian citizens participating in conferences held in Malaysia, but does not include individuals who are non-Malaysian citizens who reside in Malaysia.
Exemption
3. (1) The Minister exempts a conference promoter resident in Malaysia from the payment of income tax in respect of the statutory income derived from organising conferences held in Malaysia.
(2) The exemption in subparagraph (1) shall not apply if the total number of foreign participants brought in by that conference promoter for conferences held in Malaysia is less than five hundred in the basis period for a year of assessment.
(3) Nothing in subparagraph (1) shall absolve or be deemed to have absolved the conference promoter from complying with any requirement to submit any return or statement of accounts or to furnish any other information under the provisions of the Act.
Keeping of separate accounts
4. A conference promoter seeking exemption under paragraph 3 shall maintain a separate account for the income derived from organising conferences held in Malaysia.
Application of paragraphs 5 and 6 of Schedule 7A
5. In relation to a company, paragraphs 5 and 6 of Schedule 7A to the Act shall apply, mutatis mutandis, to the amount of income exempted under paragraph 3.
Made 14 December 2000.
[Perb. 0. 3865/73 (SJ. 39) ; LHDN. 01/35/(S) /42/51/231-2; PN(PU2) 80/XXIX]
On behalf and in the name of the Minister of Finance;
CHAN KONG CHOY
Deputy Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 127(4) of the Income Tax Act 1967]
INCOME TAX (EXEMPTION) (NO. 54) ORDER 2000
INCOME TAX (EXEMPTION) (NO. 54) ORDER 2000
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. 54) Order 2000.
(2) This Order shall be deemed to have effect from the year of assessment 1999.
Interpretation
2. For the purpose of this Order-
"promoter of car or motorcycle races" means a company incorporated under the Companies Act 1965 [Act 125], or an association or organisation registered under the Societies Act 1966 [Act 335];
"races of international standard" means any car or motorcycle races recognised by the Federation De L Automobile (FIA) and the Federation International De Motorcyclisme (FIM) .
Exemption
3. (1) The Minister exempts-
(a) the driver of a racing car or motorcycle from the payment of tax in respect of the gross income earned from competing in races of international standard held in Malaysia; and
(b) a promoter of car or motorcycle races from the payment of tax in respect of fifty per cent of the statutory income derived from the organisation of races of international standard held in Malaysia.
(2) Nothing in this paragraph shall absolve or be deemed to have absolved the driver or the promoter from complying with any requirement to submit any return or statement of accounts or to furnish any other information under the provisions of the Act.
Keeping of separate accounts
4. A promoter of car or motorcycle races seeking exemption under subparagraph 3(1) (b) shall maintain a separate account for the income derived from the organisation of races of international standard held in Malaysia.
Application of paragraphs 5 and 6 of Schedule 7A
5. In relation to a company, paragraphs 5 and 6 of Schedule 7A to the Act shall apply, mutatis mutandis, to the amount of income exempted under subparagraph 3(1) (b) .
Made 14 December 2000.
[Perb. 0. 8823/5227 (Vol. 2) ; LHDN. 01/35/(S) /42/51/231-3; PN(PU2) 80/XXIX]
On behalf and in the name of the Minister of Finance,
CHAN KONG CHOY
Deputy Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 127(4) of the Income Tax Act 1967]
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. 54) Order 2000.
(2) This Order shall be deemed to have effect from the year of assessment 1999.
Interpretation
2. For the purpose of this Order-
"promoter of car or motorcycle races" means a company incorporated under the Companies Act 1965 [Act 125], or an association or organisation registered under the Societies Act 1966 [Act 335];
"races of international standard" means any car or motorcycle races recognised by the Federation De L Automobile (FIA) and the Federation International De Motorcyclisme (FIM) .
Exemption
3. (1) The Minister exempts-
(a) the driver of a racing car or motorcycle from the payment of tax in respect of the gross income earned from competing in races of international standard held in Malaysia; and
(b) a promoter of car or motorcycle races from the payment of tax in respect of fifty per cent of the statutory income derived from the organisation of races of international standard held in Malaysia.
(2) Nothing in this paragraph shall absolve or be deemed to have absolved the driver or the promoter from complying with any requirement to submit any return or statement of accounts or to furnish any other information under the provisions of the Act.
Keeping of separate accounts
4. A promoter of car or motorcycle races seeking exemption under subparagraph 3(1) (b) shall maintain a separate account for the income derived from the organisation of races of international standard held in Malaysia.
Application of paragraphs 5 and 6 of Schedule 7A
5. In relation to a company, paragraphs 5 and 6 of Schedule 7A to the Act shall apply, mutatis mutandis, to the amount of income exempted under subparagraph 3(1) (b) .
Made 14 December 2000.
[Perb. 0. 8823/5227 (Vol. 2) ; LHDN. 01/35/(S) /42/51/231-3; PN(PU2) 80/XXIX]
On behalf and in the name of the Minister of Finance,
CHAN KONG CHOY
Deputy Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 127(4) of the Income Tax Act 1967]
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