INCOME TAX (EXEMPTION) (NO. 16) ORDER 1991

INCOME TAX (EXEMPTION) (NO. 16) ORDER 1991

 

PU (A) 161

 

IN exercise of the power, conferred by paragraph (b) of subsction (3) of section 127 of the Income Tax Act 1967, the Minister makes the following order :

 

PARAGRAPH 1         CITATION AND COMMENCEMENT

 

1   This Order may be cited as the Income Tax (Exemption) (no. 16) Order 1991 and shall have effect for the year of assessment 1991 and subsequent years of assessment.

 

PARAGRAPH 2         EXEMPTION FROM TAX

 

2   The Minister exempts from tax -

(a)      dividends received by an offshore company;

(b)      dividends received from an offshore company which are paid, credited or distributed out of, income derived from an offshore business activity or, income exempt from tax;

(c)      distributions received from an offshore trust by the beneficiaries;

(d)      royalties received from an offshore company by, a non-resident person or, another offshore company;

(e)      interest received from an offshore company by, a non-resident person (other than interest accruing to a business carried on by a non-resident person in Malaysia where that non-resident person is licensed to carry on a business under the Banking and Financial Institutions Act 1989, the Islamic Banking Act 1983, the Insurance Act 1963 or the Takaful Act 1984) or, another offshore company;

(f)       interest received from an offshore company by a resident person (other than a person licensed to carry on a business under the Banking and Financial Institution Act 1989, the Islamic Banking Act 1983, the Insurance Act 1963 or the Takaful Act 1984); and

(g)      amounts received from an offshore company by a non-resident person or another offshore company, in consideration of services, advice or assistance specified in paragraphs (i) and (ii) of section 4A.

 

PARAGRAPH 3         EXEMPTION FROM SPECIFIC PROVISIONS

 

3   The Minister exempts an offshore company from the provisions of -

(a)        section 109 in respect of royalties and interest exempt under paragraphs 2(d) and (e);

(b)        section 109B in respect of payments exempt under paragraph 2(g); and

(c)        section 109C in respect of interest exempt under paragraph 2(f).

 

PARAGRAPH 4         INTERPRETATION

 

4.         For the purposes of this Order, the words öffshore trust” shall have the meaning assigned thereto by the Labuan Offshore Business Activity Tax Act 1990.

 

PARAGRAPH 5         REVOCATION

 

5.         The Income Tax (Exemption) (No. 21) Order 1990 published on the 27th September, 1990 is revoked.

 

Made the 3rd April 1991.

INCOME TAX (EXEMPTION) (NO. 10) ORDER 2000

INCOME TAX (EXEMPTION) (NO. 10) ORDER 2000

 

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. 10) Order 2000.

(2)     This Order 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.  For the purpose of this Order -

"domestic company" has the meaning assigned to it in the Offshore Companies Act 1990 [Act 441]; and

"offshore company" has the meaning assigned to it in the Labuan Offshore Business Activity Tax Act 1990 [Act 445].

Exemption

3.  (1)     The Minister exempts the shareholders of a domestic company from the payment of income tax on dividends received from that company which are paid out of the dividends received from an offshore company.

(2)     Nothing in subparagraph (1) shall absolve or be deemed to have absolved the shareholders from complying with any requirement to submit any return or statement of accounts or to furnish any other information under the provisions of the Act.

 

Made 23 February 2000.

[Perb. (C) 0. 217 (SJ. 21) Vol. 2(62) ; LHDN. 01/35/(S) /42/51/231-12;

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 127(4) of the Income Tax Act 1967)

STAMP DUTY (EXEMPTION) ORDER 2000

P.U. (A) 9...............20.1.2000

STAMP DUTY (EXEMPTION) ORDER 2000

 

IN exercise of the powers conferred by subsection 80(1) of the Stamp Act 1949 [Act 378], the Minister makes the following order:

Citation

1.  This order may be cited as the Stamp Duty (Exemption) Order 2000.

Interpretation

2.  In this Order, "offshore business activity" and "offshore company" shall have the meaning assigned to it in the Labuan Offshore Business Activity Tax Act 1990 [Act 445].

Exemption

3.  The instruments set out in the Schedule are exempted from stamp duty.

SCHEDULE

(1)     All instruments which are executed by an offshore company in connection with an offshore business activity.

(2)     All Memorandum and Articles of Association of an offshore company.

(3)     All instruments of transfer of shares in an offshore company.

Revocation

4.  The Stamp Duty (Exemption) (No. 22) Order 1995 [P. U. (A) 284/95] published on 10 August 1995 is revoked.

 

Made 17 January 2000.

[Perb. (C) 0. 217 9(SJ. 21) Vol. 3(9) ; LHDN. 01/34/42/68-180-1(24/99) ;

PN(PU2) 159/XXII]

 

On behalf and in the name of the Minister of Finance,

CHAN KONG CHOY

Deputy Minister of Finance

LABUAN OFFSHORE FINANCIAL SERVICES AUTHORITY (ANNUAL FEE FOR

IN exercise of the powers conferred by section 32A of the Labuan Offshore Financial Services Authority Act 1996 [Act 545], the Authority, with the approval of the Minister, makes the following order:

Citation

1. This order may be cited as the Labuan Offshore Financial Services Authority (Annual Fee for Management and Operation Office of Labuan Holding Company in Kuala Lumpur) Order 2009.

Annual fee

2. (1) A licensed Labuan holding company that is a Labuan company incorporated under the Offshore Companies Act 1990 that carries on permitted business activities as specified in the Guideline on Co-location of Labuan Holding Company, approved by the Authority to open a management and operation office in Kuala Lumpur, shall pay an annual fee of seven thousand ringgit to the Authority in respect of each of its approved management and operation office in Kuala Lumpur.

(2) The annual fee required under subparagraph (1) shall be paid on or before 15 January of each year during the validity of such approval.

Made 23 December 2009

[LFA/09/2009; PN(PU2)556/II]
DATO’ AZIZAN BIN ABDUL RAHMAN

Director General
Labuan Offshore Financial Services Authority

Approved

DATO’ SRI MOHD NAJIB BIN TUN HAJI ABDUAL RAZAK
Minister of Finance

OFFSHORE COMPANIES (EXEMPTION) ORDER 2009

IN exercise of the powers conferred by section 150 of the Offshore Companies Act 1990 [Act 441], the Minister, on the recommendation of the Registrar makes the following order:

Citation

1. This order may be cited as the Offshore Companies (Exemption) Order 2009.

Exemption of subsections 7(2) and 26(4) of the Act

2. The Minister exempts a Labuan holding company tha is a Labuan company incorporated under the Offshore Companies Act 1990 that carries on permitted business activities as specified in the Guideline on Co-location of Labuan Holding Company from the application of subsections 7(2) and 26(4) of the Act.

Made 22 December 2009

[LFA/09/2009; PN(PU2)489/II]
DATO’ SRI MOHD NAJIB BIN TUN HAJI ABDUAL RAZAK
Minister of Finance

INCOME TAX (EXEMPTION) (NO. 4) ORDER 2009

INCOME TAX (EXEMPTION) (NO. 4) ORDER 2009

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. 4) Order 2009.

(2) This Order is deemed to have come into operation from 1 January 2009.

Exemption

2. (1) The Minister exempts from tax any gains or profit falling under paragraph 4(f) of the Act received by a non-resident from an offshore company.

(2) For the purposes of this paragraph, “offshore company” has the same meaning assigned to it in the Labuan Offshore Business Activity Tax Act 1990 [Act 445].

Non-application

3. The provisions of section 109F of the Act shall not apply to the income exempted under this Order.

Made 20 October 2009

[Perb.(C)0.217(SJ. 18) Vol. 5(SK. 3); LHDN.01/35/(S)/42/51/231-12;
PN(PU2)80/LVII]

DATO’ SERI HAJI AHMAD HUSNI BIN MOHAMAD HANADZLAH
Second Minister of Finance

[To be laid before the Dewan Rakyat pursuant to subsection 127(4) of the
Income Tax Act 1967]