REAL PROPERTY GAINS TAX (EXEMPTION) (NO. 3) ORDER 2003 [P.U.(A) 450]

REAL PROPERTY GAINS TAX (EXEMPTION) (NO. 3) ORDER 2003 [P.U.(A) 450]

(Gazetted on 11 December, 2003)

 

IN exercise of the powers conferred by subsection 9(3) of the Real Property Gains Tax Act 1976 [Act 169], the Minister makes the following order:

 

Citation and commencement

 

1. (1) This order may be cited as the Real Property Gains Tax (Exemption) (No. 3) Order 2003.

 

(2) This Order is deemed to have effect from the year of assessment 2003.

 

Exemption

 

2. The Minister exempts any person from the payment of real property gains tax in respect of chargeable gains accruing on the disposal of any chargeable assets in relation to the issuance of private debt securities under Islamic principles.

 

Non-Application

 

3. This Order shall not apply to any person who has been granted an exemption under the Real Property Gains Tax (Exemption) (No. 4) Order 2002 [P.U. (A) 270/2003].

 

Made 17 November 2003

[Perb. CR(8.09) 294/6/4-9 (Sj. 5) Vol. 3 (Sk. 4);

LHDN. 01/35/(S)/42/23/7; PN(PU²)325/II]

 

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 9(4) of the Real Property Gains Tax Act 1976]