Income Tax (Deduction For Freight Charges From Sabah Or Sarawak To Peninsular Malaysia) Rules 2000

Income Tax (Deduction For Freight Charges From Sabah Or Sarawak To Peninsular Malaysia) Rules 2000

 

IN exercise of the powers conferred by paragraph 154(1) (b) 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 (Deduction for Freight Charges from Sabah or Sarawak to Peninsular Malaysia) Rules 2000.

(2)     These Rules shall have effect for the year of assessment 2000 in respect of the basis period ending in the year 2000 and subsequent years of assessment.

Interpretation

2.  In these Rules, "freight charges" means ship freight charges incurred by manufacturers for the shipment of their manufactured goods from Sabah or Sarawak to any port in Peninsular Malaysia.

Deduction

3.  For the purposes of ascertaining the adjusted income of a person from his business for the basis period for a year of assessment, there shall be allowed, in addition to any deduction allowable under section 33 of the Act, a further deduction equal to the amount of any freight charges incurred in that basis period.

Made 26 January 2000.

[Perb. R(8. 20) 116/1-138 (2000) (SK. 11) ; LHDN. 01/35/(S) /42/51/82-35. 1; PN(PU2) 80/XXVII]

 

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)