INCOME TAX (EXEMPTION) (NO. 60) ORDER 2003 [P.U.(A) 382]
(Gazetted on 9 October, 2003)
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. 60) Order
2003.
(2) This Order is deemed to have effect
from the year of assessment 2003.
Interpretation
2.
In this Order, unless the context otherwise requires—
“regional office” means a regional office approved by the Minister
of International Trade and Industry;
“operational headquarters company” means an operational
headquarters company approved by the Minister of Finance.
Exemption
3.
(1) The Minister exempts a non-citizen individual from the payment of income
tax in respect of income derived from an employment with an operational
headquarters company or a regional office.
(2) Subject to subparagraph (3), the amount of income exempted
under subparagraph (1) is in respect of the employment exercised outside
Malaysia which shall be determined in accordance with the following formula:
A x B
C
where A is the chargeable income for a year of
assessment attributable to an operational headquarters company or a regional
office;
B is the number of days in the year of
assessment he is in employment with the operational headquarters or the
regional office exercised outside Malaysia; and
C is the number of days in the year of
assessment he is in employment with the operational headquarters company or the
regional office.
(3) Where the non-citizen individual has sources of income other
than that of employment with the operational headquarters or the regional
office, the chargeable income referred to in subparagraph (2) shall be
determined in accordance with the following formula:
D x E
F
where D is the chargeable income for a year of
assessment;
E is the gross income from employment with the
operational headquarters company or the regional office for a year of
assessment; and
F is the total of gross income from all
sources for a year of assessment.
(4)
For the purpose of subparagraph (2), a non-citizen individual is deemed to be
outside Malaysia for a day if he is outside Malaysia for the whole of that day.
Made
25 September 2003
[Perb.
CR(8.09)681/2-61(SJ. 12) Vol. 3(33); LHDN. 01/35/42/51/231-17.3; PN(PU2)80/XXXIX]
On behalf and in the name of the Minister of Finance
DR.
NG YEN YEN
Deputy
Minister of Finance II
[To be laid before the
Dewan Rakyat pursuant to subsection 127(4) of the Income Tax Act 1967]
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