IN exercise of the powers confered 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) Order 2001.
(2) This Order shall be deemed to have come into operation on 1 January 2001.
2. For the purpose of this Order, "Special Committee" means a committee set up by the Ministry of Human Resources to approve applications for incentives made by Malaysian citizens abroad who are experts in specific areas and intend to return to Malaysia.
3. (1) The Minister exempts a Malaysian citizen and his or her spouse who have been approved by the Special Committee from the payment of income tax in respect of income arising from sources outside Malaysia and remitted into Malaysia within a period of two years from the date of arrival in Malaysia.
(2) Nothing in this paragraph shall absolve or be deemed to have absolved the individual and his or her spouse 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.
Made 1 March 2001.
[Perb. CR (8.20) 116/1-138(2001) Vol. 3 (sk1); LHDN. 01/35/(S)/42/231-4; PN(PU 2 )80/XXIX]
On behalf and in the name of the Minister of Finance,
Deputy Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 127(4) of the Income Tax Act 1967]

No comments:

Post a Comment