INCOME TAX (DEDUCTIONS FOR PARTICIPATION IN AN APPROVED
INTERNATIONAL TRADE FAIR) RULES 1991
PU (A) 361
IN exercise of the
powers conferred by section 154(1)(b) of the Income Tax Act 1967, the Minister
makes the following rules :
RULE 1 CITATION AND COMMENCEMENT
1 These Rules may be cited as the Income Tax
(Deductions For Participation In An Approved International Trade Fair) Rules
1991 and shall have effect for the year of assessment 1992 and subsequent years
of assessment.
RULE 2 DEDUCTIONS
2(1) Subject to rule 3, for the purpose of
ascertaining the adjusted income of a company under the Act, there shall be
allowed as a deduction any expenditure incurred by the company for
participating in an approved international trade fair held in Malaysia for the
promotion of exports.
2(2) The deduction under
these Rules shall be in addition to any deduction allowable under section 33 of
the Act.
RULE 3 SATISFACTION OF CONDITIONS TO QUALIFY
FOR DEDUCTION
3 In order to qualify for a deduction under
rule 2, the company claiming the deduction must satisfy the following
conditions :
(a) the trade fair must be an international
trade fair approved by the Minister of International Trade and Industry;
(b) the company must be approved by the
Minister of International Trade and Industry to participate in the
international trade fair; and
(c) the expenditure incurred in participating
in the international trade fair must be of a kind allowable under section 33 of
the Act but excludes the cost of exhibits.
Made the 23rd September 1991.
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