INCOME TAX (EXEMPTION)(NO.6) ORDER 2003

INCOME TAX (EXEMPTION)(NO.6) ORDER 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.6) Order 2003.

 

         (2)  This Order is deemed to have effect from the year of assessment 1999 and subsequent years of assessment.

 

Exemption

 

2.      (1)  The Minister exempts all persons from the payment of income tax in respect of discount or profit received from the sale of bonds or securities issued by Pengurusan Danaharta Nasional Berhad or Danaharta UrusSendirian Berhad within and outside Malaysia.

 

         (2)  The bonds or the securities referred to in subparagraph (1) shall be issued at a discount and without interest payable.

 

         (3)  Sections 109 and 109C of the Act shall not apply to income exempted under this Order.

 

Made 13 May 2003

[Perb.CR(8.20)116/1-138(SJ.18)Vol.2(37);LHDN.01/35/42/51/231-3; PN(PU ² )80/XXXVII]

 

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]