Income Tax (Exemption) (No. 9) 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. 9) Order 2009.
(2) This Order is deemed to have effect for the year of assessment 2003 and subsequent years of assessment subject to subsubsubparagraph 3(2)(a)(ii).
Interpretation
2. In this order “consolidation of management project” means a consolidation of management of smallholding and idle land projects.
Exemption
3. (1) Subject to the qualification under subparagraph (2), the Minister exempts the following persons who are resident in Malaysia and have business sources in Malaysia from the payment of income tax in respect of statutory income derived by such persons from a consolidation of management project:
(a) an individual;
(b) a partnership established under the Partnership Act 1961 [Act 135];
(c) a co-operative society registered under any written law relating to the registration of co-operative societies in Malaysia; and
(d) a company established under the Companies Act 1965 [Act 125].
(2) To qualify for an exemption under this Order—
(a) relating to the consolidation of management project—
(i) the consolidation of management project shall be approved by the Minister charged with the responsibility of approving such project; and
(ii) the application for the approval to carry out the consolidation of management project is made by the person referred to in subparagraph (1) to the Minister referred to in subsubsubparagraph (i) on or after 21 September 2002 but not later than 31 December 2011; and
(b) an application for such exemption shall be made by the person referred to in subparagraph (1) to the Minister.
(3) The exemption granted under this Order shall be for a period of five consecutive years of assessment commencing from the basis period for a year of assessment the consolidation of management project commences.
(4) Nothing in subparagraph (1) shall absolve or be deemed to absolve the qualifying person 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.
Separate account
4. (1) Where a qualifying person carries out a consolidation of management project and any other project or business, each of such project and business shall be treated as a separate and distinct source of project or business of the qualifying person.
(2) The qualifying person shall maintain a separate account for the income derived from the consolidation of management project.
Application of paragraphs 5 and 6 of Schedule 7A of the Act
5. Paragraphs 5 and 6 of Schedule 7A of the Act shall apply, mutatis mutandis, to the amount of income exempted under subparagraph 3(1).
Made 24 November 2009
[Perb. CR(8.09)294/6/4-9(SJ.9)(2010); LHDN.01/35/(S)/42/51/231-17.11;
PN(PU2)80/LVIII]
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]
Stamp Duty (Remission) (No. 2) Order 2009
Stamp Duty (Remission) (No. 2) Order 2009
In exercise of the powers conferred by subsection 80(2) of the Stamp Act 1949 [Act 378], the Minister makes the following order:
Citation and commencement
1. (1) This order may be cited as the Stamp Duty (Remission) (No. 2) Order 2009.
(2) This Order shall have effect from 1 January 2010 until 31 December 2015.
Remission
2. Twenty percent of the stamp duty payable and chargeable on the principal or primary instrument of financing made according to the Syariah principles pursuant to subsubparagraph 22(1)(a) or subparagraph 27(a) of the First Schedule of the Act is remitted subject to the condition that the instrument is approved by the Syariah Advisory Council of Bank Negara Malaysia or the Securities Commission, as the case may be.
Made 23 November 2009
[Perb. CR(8.09)294/6/4-9(SJ. 9)(2010); LHDN. 01/35/(S)/42/51/231-17.11;
PN(PU2)159/XXXV]
Dato’ Seri Haji Ahmad Husni bin Mohamad Hanadzlah
Second Minister of Finance
In exercise of the powers conferred by subsection 80(2) of the Stamp Act 1949 [Act 378], the Minister makes the following order:
Citation and commencement
1. (1) This order may be cited as the Stamp Duty (Remission) (No. 2) Order 2009.
(2) This Order shall have effect from 1 January 2010 until 31 December 2015.
Remission
2. Twenty percent of the stamp duty payable and chargeable on the principal or primary instrument of financing made according to the Syariah principles pursuant to subsubparagraph 22(1)(a) or subparagraph 27(a) of the First Schedule of the Act is remitted subject to the condition that the instrument is approved by the Syariah Advisory Council of Bank Negara Malaysia or the Securities Commission, as the case may be.
Made 23 November 2009
[Perb. CR(8.09)294/6/4-9(SJ. 9)(2010); LHDN. 01/35/(S)/42/51/231-17.11;
PN(PU2)159/XXXV]
Dato’ Seri Haji Ahmad Husni bin Mohamad Hanadzlah
Second Minister of Finance
Stamp Duty (Exemption) Order 2009
Stamp Duty (Exemption) Order 2009
In exercise of the powers conferred by subsection 80(1) of the Stamp Act 1949 [Act 378], the Minister makes the following order:
Citation and commencement
1. (1) This order may be cited as the Stamp Duty (Exemption) Order 2009.
(2) This Order is deemed to have come into operation on 24 October 2009.
Exemption
2. (1) Any instrument of transfer on the amount of cost which constitute part of the cost of a property pursuant to the purchase of that property which has been issued with a green building index certificate, by the Board of Architect Malaysia established under section 3 of the Architects Act 1967 [Act 117], is exempted from stamp duty.
(2) The exemption in subparagraph (1) applies to any Sale and Purchase Agreement for the purchase of the property referred to in that subparagraph which is executed between a purchaser and a housing developer or property developer, licensed or registered under a Federal or State law, on or after 24 October 2009 but not later than 31 December 2014 and shall be given to the first owner of that property.
(3) The cost referred to in subparagraph (1) means cost to design and construct the property for the purpose of obtaining a green building index certificate and other costs as certified by the Board of Architect Malaysia.
Made 23 November 2009
[Perb. CR(8.09)294/6/4-9(SJ. 9)(2010); LHDN. 01/32.3/4/68-100-3-2;
PN(PU2)159/XXXV]
Dato’ Seri Haji Ahmad Husni bin Mohamad Hanadzlah
Second Minister of Finance
In exercise of the powers conferred by subsection 80(1) of the Stamp Act 1949 [Act 378], the Minister makes the following order:
Citation and commencement
1. (1) This order may be cited as the Stamp Duty (Exemption) Order 2009.
(2) This Order is deemed to have come into operation on 24 October 2009.
Exemption
2. (1) Any instrument of transfer on the amount of cost which constitute part of the cost of a property pursuant to the purchase of that property which has been issued with a green building index certificate, by the Board of Architect Malaysia established under section 3 of the Architects Act 1967 [Act 117], is exempted from stamp duty.
(2) The exemption in subparagraph (1) applies to any Sale and Purchase Agreement for the purchase of the property referred to in that subparagraph which is executed between a purchaser and a housing developer or property developer, licensed or registered under a Federal or State law, on or after 24 October 2009 but not later than 31 December 2014 and shall be given to the first owner of that property.
(3) The cost referred to in subparagraph (1) means cost to design and construct the property for the purpose of obtaining a green building index certificate and other costs as certified by the Board of Architect Malaysia.
Made 23 November 2009
[Perb. CR(8.09)294/6/4-9(SJ. 9)(2010); LHDN. 01/32.3/4/68-100-3-2;
PN(PU2)159/XXXV]
Dato’ Seri Haji Ahmad Husni bin Mohamad Hanadzlah
Second Minister of Finance
Income Tax (Exemption) (No. 5) Order 2009
Income Tax (Exemption) (No. 5) 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. 5) Order 2009.
(2) This Order is deemed to have come into operation on 24 October 2009 and shall effect subject to paragraph 3.
Application
2. This Order shall apply to a company resident in Malaysia which is—
(a) an insurer licensed under the Insurance Act 1996 [Act 553]; and
(b) a takaful operator registered under the Takaful Act 1984 [Act 312].
Exemption
3. (1) The Minister exempts for five consecutive years of assessment (hereinafter referred to as “exempt period”) the company referred to in paragraph 2 from the payment of income tax in respect of statutory income in relation to sources of income derived from a branch of the company or a company where at least twenty per cent of the issued share capital of such company is directly owned by the company referred to in paragraph (2) (hereinafter referred to as “investee company”)—
(a) which carries or will carry on insurance or takaful business, or any part of such insurance or takaful business; and
(b) which is located outside Malaysia.
(2) To qualify for an exemption under this Order—
(a) an application for such exemption shall be made by the company to the Minister;
(b) the application for approval to carry out insurance or takaful business, or any part of such insurance or takaful business by the branch of the company or investee company is received by the Central Bank of Malaysia on or after 24 October 2009 but not later than 31 December 2015; and
(c) the branch of the company or investee company shall commence insurance or takaful business, or any part such insurance or takaful business within two years from the date of approval issued by the Central Bank of Malaysia.
(3) Commencement of the exempt period referred to in subparagraph (1) shall be determined by the company but later than the third year of assessment the branch of the company or investee company commences insurance or takaful business, or any part such insurance or takaful business.
(4) Nothing in subparagraph (1) shall absolve or be deemed to have absolved the company 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.
Application of paragraphs 5 and 6 Schedule 7A
4. Paragraphs 5 and 6 of Schedule 7A to the Act shall apply, mutatis mutandis, to the amount of income exempted under subparagraph 3(1).
Separate account
5. The company exempted under subparagraph 3(1) shall maintain a separate account for the income exempted under such subparagraph.
Made 23 November 2009
[Perb. CR(8.09)294/6/4-9(SJ. 9)(2010); LHDN. 01/35/(S)/42/51/231-17.11;
PN(PU2)80/LVIII]
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]
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. 5) Order 2009.
(2) This Order is deemed to have come into operation on 24 October 2009 and shall effect subject to paragraph 3.
Application
2. This Order shall apply to a company resident in Malaysia which is—
(a) an insurer licensed under the Insurance Act 1996 [Act 553]; and
(b) a takaful operator registered under the Takaful Act 1984 [Act 312].
Exemption
3. (1) The Minister exempts for five consecutive years of assessment (hereinafter referred to as “exempt period”) the company referred to in paragraph 2 from the payment of income tax in respect of statutory income in relation to sources of income derived from a branch of the company or a company where at least twenty per cent of the issued share capital of such company is directly owned by the company referred to in paragraph (2) (hereinafter referred to as “investee company”)—
(a) which carries or will carry on insurance or takaful business, or any part of such insurance or takaful business; and
(b) which is located outside Malaysia.
(2) To qualify for an exemption under this Order—
(a) an application for such exemption shall be made by the company to the Minister;
(b) the application for approval to carry out insurance or takaful business, or any part of such insurance or takaful business by the branch of the company or investee company is received by the Central Bank of Malaysia on or after 24 October 2009 but not later than 31 December 2015; and
(c) the branch of the company or investee company shall commence insurance or takaful business, or any part such insurance or takaful business within two years from the date of approval issued by the Central Bank of Malaysia.
(3) Commencement of the exempt period referred to in subparagraph (1) shall be determined by the company but later than the third year of assessment the branch of the company or investee company commences insurance or takaful business, or any part such insurance or takaful business.
(4) Nothing in subparagraph (1) shall absolve or be deemed to have absolved the company 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.
Application of paragraphs 5 and 6 Schedule 7A
4. Paragraphs 5 and 6 of Schedule 7A to the Act shall apply, mutatis mutandis, to the amount of income exempted under subparagraph 3(1).
Separate account
5. The company exempted under subparagraph 3(1) shall maintain a separate account for the income exempted under such subparagraph.
Made 23 November 2009
[Perb. CR(8.09)294/6/4-9(SJ. 9)(2010); LHDN. 01/35/(S)/42/51/231-17.11;
PN(PU2)80/LVIII]
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]
Income Tax (Exemption) (No. 6) Order 2009
Income Tax (Exemption) (No. 6) 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. 6) Order 2009.
(2) This Order shall have effect from the year of assessment 2010 until the year of assessment 2014.
Exemption
2. (1) The Minister exempts a person resident in Malaysia from the payment of income tax in respect of income derived from a healthcare services business given to a foreign client who is a company, a partnership, an organization or a cooperative society which is incorporated or registered outside Malaysia or non Malaysia citizen individual in the basis period for a year of assessment, in an amount and manner prescribed in paragraph 3.
(2) A non-Malaysian citizen individual referred to in subparagraph (1) shall not include the individual who is—
(a) a non-Malaysian citizen that participates in Malaysia My Second Home programme and his dependents;
(b) a non-Malaysian citizen holding a Malaysian student pass and his dependents;
(c) a non-Malaysian citizen holding a Malaysian work permit and his dependents; and
(d) a non-resident Malaysian citizen living abroad and his dependents.
Amount of income to be exempted
3. (1) The amount of income referred to in subparagraph 2(1) shall be equal to one hundred per cent of the value of increased services which is the difference of the value of the healthcare services provided in Malaysia in the basis period and the immediately preceding basis period (hereinafter referred to as “value of increased services”).
(2) Where an amount of income equivalent to one hundred per cent of the value of increased services has been determined for a year of assessment, so much of the statutory income of the business of that person for that year of assessment as is equal to that value of increased services (or to the aggregate amount of any such value of increased services as the case may be) but not exceeding seventy per cent of the statutory income, such amount of income shall be exempted from tax.
(3) The statutory income from the business referred to in subparagraph 2(1) in the basis period for a year of assessment shall be determined after deducting allowances which fall to be made under Schedule 3 of the Act notwithstanding that no claim for such allowances has been made.
(4) Where an asset used for the purpose of healthcare services business referred to in subparagraph 2(1) is also used for the purpose of a business other than that business, the allowances which fall to be made under Schedule 3 of the Act shall be deducted as is reasonable having regard to the extent to which the asset is used for the purpose of the first mentioned business.
(5) Nothing in subparagraph (1) shall absolve or is deemed to have absolved the person from complying with any requirement to submit any return or statement of accounts or to furnish any other information under the provision of the Act.
Insufficiency of income
4. Where, by reason of the restriction of seventy per cent, as prescribed in subparagraph 3(2), of the statutory income or of an insufficiency or absence of statutory income from a business of the person for the basis period for a year of assessment, exemption cannot be given or cannot be given in full to the amount of the determined value of increased services to which the person is entitled under paragraph 2(1) for that year of assessment, then so much of that amount or the aggregate amount as cannot be given for that year shall be given to the person for the first subsequent year of assessment for the basis period for which there is statutory income from that business, and for subsequent years of assessment until the person has received the whole of the amount or the aggregate amount to which the person is so entitled.
Separate account
5. A person who is exempted under paragraph 2(1) shall maintain a separate account for the income derived from the healthcare services business referred to in that paragraph.
Application of paragraphs 5 and 6 of Schedule 7A
6. Paragraphs 5 and 6 of Schedule 7A to the Act shall apply mutatis mutandis to the amount of income exempted under paragraph 2(1).
Non-application
7. This Order shall not apply to a person who in the basis period for a year of assessment—
(a) has been granted any incentives (except for deductions for promotion of exports) under the Promotion of Investments Act 1986 [Act 327];
(b) has been granted investment allowance in respect of an approved service project under Schedule 7b of the Act;
(c) has been granted an exemption under paragraph 127(3)(b) of the Act or subsection 127(3A) of the Act; or
(d) has been granted an exemption under the Income Tax (Exemption) (No. 9) 2002 [P.U. (A) 57/2002].
Made 23 November 2009
[Perb. CR(8.09)294/6/4-9(SJ. 9)(2010); LHDN. 01/35/(S)/42/51/231-17.11;
PN(PU2)80/LVIII]
Dato’ Seri Haji Ahmad Husni bin Mohamad Hanadzlah
Second Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 154(2) of the
Income Tax Act 1967]
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 2009.
(2) This Order shall have effect from the year of assessment 2010 until the year of assessment 2014.
Exemption
2. (1) The Minister exempts a person resident in Malaysia from the payment of income tax in respect of income derived from a healthcare services business given to a foreign client who is a company, a partnership, an organization or a cooperative society which is incorporated or registered outside Malaysia or non Malaysia citizen individual in the basis period for a year of assessment, in an amount and manner prescribed in paragraph 3.
(2) A non-Malaysian citizen individual referred to in subparagraph (1) shall not include the individual who is—
(a) a non-Malaysian citizen that participates in Malaysia My Second Home programme and his dependents;
(b) a non-Malaysian citizen holding a Malaysian student pass and his dependents;
(c) a non-Malaysian citizen holding a Malaysian work permit and his dependents; and
(d) a non-resident Malaysian citizen living abroad and his dependents.
Amount of income to be exempted
3. (1) The amount of income referred to in subparagraph 2(1) shall be equal to one hundred per cent of the value of increased services which is the difference of the value of the healthcare services provided in Malaysia in the basis period and the immediately preceding basis period (hereinafter referred to as “value of increased services”).
(2) Where an amount of income equivalent to one hundred per cent of the value of increased services has been determined for a year of assessment, so much of the statutory income of the business of that person for that year of assessment as is equal to that value of increased services (or to the aggregate amount of any such value of increased services as the case may be) but not exceeding seventy per cent of the statutory income, such amount of income shall be exempted from tax.
(3) The statutory income from the business referred to in subparagraph 2(1) in the basis period for a year of assessment shall be determined after deducting allowances which fall to be made under Schedule 3 of the Act notwithstanding that no claim for such allowances has been made.
(4) Where an asset used for the purpose of healthcare services business referred to in subparagraph 2(1) is also used for the purpose of a business other than that business, the allowances which fall to be made under Schedule 3 of the Act shall be deducted as is reasonable having regard to the extent to which the asset is used for the purpose of the first mentioned business.
(5) Nothing in subparagraph (1) shall absolve or is deemed to have absolved the person from complying with any requirement to submit any return or statement of accounts or to furnish any other information under the provision of the Act.
Insufficiency of income
4. Where, by reason of the restriction of seventy per cent, as prescribed in subparagraph 3(2), of the statutory income or of an insufficiency or absence of statutory income from a business of the person for the basis period for a year of assessment, exemption cannot be given or cannot be given in full to the amount of the determined value of increased services to which the person is entitled under paragraph 2(1) for that year of assessment, then so much of that amount or the aggregate amount as cannot be given for that year shall be given to the person for the first subsequent year of assessment for the basis period for which there is statutory income from that business, and for subsequent years of assessment until the person has received the whole of the amount or the aggregate amount to which the person is so entitled.
Separate account
5. A person who is exempted under paragraph 2(1) shall maintain a separate account for the income derived from the healthcare services business referred to in that paragraph.
Application of paragraphs 5 and 6 of Schedule 7A
6. Paragraphs 5 and 6 of Schedule 7A to the Act shall apply mutatis mutandis to the amount of income exempted under paragraph 2(1).
Non-application
7. This Order shall not apply to a person who in the basis period for a year of assessment—
(a) has been granted any incentives (except for deductions for promotion of exports) under the Promotion of Investments Act 1986 [Act 327];
(b) has been granted investment allowance in respect of an approved service project under Schedule 7b of the Act;
(c) has been granted an exemption under paragraph 127(3)(b) of the Act or subsection 127(3A) of the Act; or
(d) has been granted an exemption under the Income Tax (Exemption) (No. 9) 2002 [P.U. (A) 57/2002].
Made 23 November 2009
[Perb. CR(8.09)294/6/4-9(SJ. 9)(2010); LHDN. 01/35/(S)/42/51/231-17.11;
PN(PU2)80/LVIII]
Dato’ Seri Haji Ahmad Husni bin Mohamad Hanadzlah
Second Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 154(2) of the
Income Tax Act 1967]
Income Tax (Exemption) (No. 7) Order 2009
Income Tax (Exemption) (No. 7) 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. 7) Order 2009.
(2) This Order is deemed to have come into operation on 24 October 2009 and shall have effect subject to paragraph 3.
Interpretation
2. In this Order—
“company” means—
(a) a bank licensed under the Banking and Financial Institutions Act 1989 [Act 372]; or
(b) a bank licensed under the Islamic Banking Act 1983 [Act 276]; “investee company” means a company where at least twenty percent of its issued share capital is directly owned by a company referred to in subparagraph 3(1).
Exemption
3. (1) The Minister exempts for five consecutive years of assessment (hereinafter referred to as “exempt period”) a company resident in Malaysia from the payment of income tax in respect of statutory income in relation to sources of income derived from its branch or investee company—
(a) which carries or will carry on banking, Islamic banking or any part of banking or Islamic banking; and
(b) which is located outside Malaysia.
(2) To qualify for an exemption under this Order—
(a) an application for such exemption shall be made by the company;
(b) the application under subsubparagraph (a) is received by the Central Bank on or after 24 October 2009 but not later than 31 December 2015; and
(c) the branch or investee company referred to in subparagraph 3(1) shall commence the banking, Islamic banking or any part of the banking or Islamic banking business within two years from the date of approval issued by the Central Bank.
(3) The commencement of the exempt period referred to in subparagraph 3(1) shall be determined by the company but shall not be later than the third year of assessment the branch or investee company commences the banking, Islamic banking or any part of the banking or Islamic banking business.
(4) Nothing in subparagraph 3(1) shall absolve or be deemed to have absolved the company 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.
Application of paragraphs 5 and 6 Schedule 7A
4. Paragraphs 5 and 6 of Schedule 7A to the Act shall apply, mutatis mutandis, to the amount of income exempted under subparagraph 3(1).
Separate account
5. The branch or investee company shall maintain a separate account for the income exempted from tax under subparagraph 3(1).
Exemption
6. (1) Where a company has been granted an exemption under the Income Tax (Exemption) (No. 16) Order 2007 [P.U. (A) 278/2007], such exemption shall continue to remain in full force and effect and that Order shall be deemed to continue to apply for the remaining years of assessment of the exempt period of that company.
(2) In relation to a company which has been granted approval by the Central Bank on or before 23 October 2009 to carry on banking, Islamic banking or any part of banking or Islamic banking business under the provisions of the Order referred to in subparagraph 6(1) but has not commenced the business, the exempt period of the company shall commence in accordance with the provisions of this Order.
Made 23 November 2009
[Perb. CR(8.09)294/6/4-9(SJ. 9)(2010); LHDN. 01/35/(S)/42/51/231-17.11;
PN(PU2)80/LVIII]
Dato’ Seri Haji Ahmad Husni bin Mohamad Hanadzlah
Second Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 154(2) of the
Income Tax Act 1967]
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. 7) Order 2009.
(2) This Order is deemed to have come into operation on 24 October 2009 and shall have effect subject to paragraph 3.
Interpretation
2. In this Order—
“company” means—
(a) a bank licensed under the Banking and Financial Institutions Act 1989 [Act 372]; or
(b) a bank licensed under the Islamic Banking Act 1983 [Act 276]; “investee company” means a company where at least twenty percent of its issued share capital is directly owned by a company referred to in subparagraph 3(1).
Exemption
3. (1) The Minister exempts for five consecutive years of assessment (hereinafter referred to as “exempt period”) a company resident in Malaysia from the payment of income tax in respect of statutory income in relation to sources of income derived from its branch or investee company—
(a) which carries or will carry on banking, Islamic banking or any part of banking or Islamic banking; and
(b) which is located outside Malaysia.
(2) To qualify for an exemption under this Order—
(a) an application for such exemption shall be made by the company;
(b) the application under subsubparagraph (a) is received by the Central Bank on or after 24 October 2009 but not later than 31 December 2015; and
(c) the branch or investee company referred to in subparagraph 3(1) shall commence the banking, Islamic banking or any part of the banking or Islamic banking business within two years from the date of approval issued by the Central Bank.
(3) The commencement of the exempt period referred to in subparagraph 3(1) shall be determined by the company but shall not be later than the third year of assessment the branch or investee company commences the banking, Islamic banking or any part of the banking or Islamic banking business.
(4) Nothing in subparagraph 3(1) shall absolve or be deemed to have absolved the company 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.
Application of paragraphs 5 and 6 Schedule 7A
4. Paragraphs 5 and 6 of Schedule 7A to the Act shall apply, mutatis mutandis, to the amount of income exempted under subparagraph 3(1).
Separate account
5. The branch or investee company shall maintain a separate account for the income exempted from tax under subparagraph 3(1).
Exemption
6. (1) Where a company has been granted an exemption under the Income Tax (Exemption) (No. 16) Order 2007 [P.U. (A) 278/2007], such exemption shall continue to remain in full force and effect and that Order shall be deemed to continue to apply for the remaining years of assessment of the exempt period of that company.
(2) In relation to a company which has been granted approval by the Central Bank on or before 23 October 2009 to carry on banking, Islamic banking or any part of banking or Islamic banking business under the provisions of the Order referred to in subparagraph 6(1) but has not commenced the business, the exempt period of the company shall commence in accordance with the provisions of this Order.
Made 23 November 2009
[Perb. CR(8.09)294/6/4-9(SJ. 9)(2010); LHDN. 01/35/(S)/42/51/231-17.11;
PN(PU2)80/LVIII]
Dato’ Seri Haji Ahmad Husni bin Mohamad Hanadzlah
Second Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 154(2) of the
Income Tax Act 1967]
Income Tax (Exemption) (No. 8) Order 2009
Income Tax (Exemption) (No. 8) 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. 8) Order 2009.
(2) This Order shall have effect from the year of assessment 2009 and subsequent years of assessment subject to paragraph 3 and subsubparagraph 5(3)(b).
Interpretation
2. In this Order—
“Board of Architects Malaysia” means a board which is established under section 3 of the Architects Act 1967 [Act 117];
“person” means a person resident in Malaysia and with respect to a company, refers to a company incorporated under the Companies Act 1965 [Act 125];
“qualifying expenditure” means an additional expenditure incurred in relation to construction of a building, alteration, renovation, extension or improvement of an existing building.
Application
3. This Order shall apply to a person who has obtained a green building index certificate issued by the Board of Architects Malaysia from 24 October 2009 until 31 December 2014.
Non-application
4. This Order shall not apply to a person who has been granted with investment tax allowance or pioneer status under the Promotion of Investments Act 1986 [Act 327] in respect of qualifying expenditure incurred on activity for generation of renewable energy or for conservation of energy.
Exemption
5. (1) The Minister exempts a person in the basis period for a year of assessment from the payment of income tax in respect of the statutory income which is equal to the amount of qualifying expenditure incurred by that person for the purpose of obtaining a green building index certificate issued by the Board of Architects Malaysia.
(2) The qualifying expenditure incurred by the person referred to in subparagraph (1), prior to the issuance of a green building index certificate—
(a) shall be deemed to have been incurred on the day the green building index certificate is issued; and
(b) may be claimed in the basis period for a year of assessment when the person commences to carry on with his business at the building which is issued with that green building index certificate.
(3) Where by reason of an absence or insufficiency of statutory income of a person from his business for the basis period for a year of assessment—
(a) an exemption shall not be given or shall not be given in full to the amount to which the person is entitled under subparagraph (1) for that year of assessment; and
(b) the amount, which shall not be given exemption or shall not be given exemption in full as referred to in subsubparagraph (a) for that year of assessment, shall be exempted for the first subsequent year of assessment for the basis period for which there is statutory income from that business, and for subsequent years of assessment until the whole of the amount to which the person is so entitled is exempted.
(4) Nothing in subparagraph (1) shall absolve or be deemed to have absolved the person from complying with any requirement to submit any return or statement of accounts or to furnish any other information under the provision of the Act.
Qualifying expenditure under a hire-purchase agreement
6. (1) Where the person referred to in subparagraph 5(1) becomes a party of a hire-purchase agreement to purchase an asset for the purpose of his business which is being conducted at a building which is issued to it with the green building index certificate and incurs a qualifying expenditure, the person shall be entitled for an exemption in accordance with subparagraph 5(1).
(2) The amount of an exemption to be given in respect of the qualifying expenditure incurred by the person for the basis period for a year of assessment shall be—
(a) the capital portion of any instalment payment made by the person under a hire-purchase agreement; or
(b) where there is more than one payment, the aggregate of those payments, made by the person under a hire-purchase agreement.
(3) For the purpose of this Order, the person shall be deemed to be the owner of the asset purchased under a hire-purchase agreement.
Capital allowance and industrial building allowance
7. For the purpose of this Order, a person who incurs a qualifying expenditure referred to in subparagraph 5(1) shall only be entitled to make a claim for a capital allowance and industrial building allowance under Schedule 3 of the Act if the qualifying expenditure is a qualifying capital expenditure under that Schedule.
Certification by the Board of Architects Malaysia
8. The Board of Architects Malaysia may certify any other expenditure incurred, for the purpose referred to in subparagraph 5(1), to be the qualifying expenditure.
Application of paragraphs 5 and 6 of Schedule 7A
9. Paragraphs 5 and 6 of Schedule 7A of the Act shall apply, mutatis mutandis, to the amount of statutory income exempted from income tax which is derived from the activity referred to in subparagraph 5(1).
Made 23 November 2009
[Perb. CR(8.09)294/6/4-9(SJ.9)(2010); LHDN.01/35/(S)/42/51/231-17.11;
PN(PU2)80/LVIII]
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]
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. 8) Order 2009.
(2) This Order shall have effect from the year of assessment 2009 and subsequent years of assessment subject to paragraph 3 and subsubparagraph 5(3)(b).
Interpretation
2. In this Order—
“Board of Architects Malaysia” means a board which is established under section 3 of the Architects Act 1967 [Act 117];
“person” means a person resident in Malaysia and with respect to a company, refers to a company incorporated under the Companies Act 1965 [Act 125];
“qualifying expenditure” means an additional expenditure incurred in relation to construction of a building, alteration, renovation, extension or improvement of an existing building.
Application
3. This Order shall apply to a person who has obtained a green building index certificate issued by the Board of Architects Malaysia from 24 October 2009 until 31 December 2014.
Non-application
4. This Order shall not apply to a person who has been granted with investment tax allowance or pioneer status under the Promotion of Investments Act 1986 [Act 327] in respect of qualifying expenditure incurred on activity for generation of renewable energy or for conservation of energy.
Exemption
5. (1) The Minister exempts a person in the basis period for a year of assessment from the payment of income tax in respect of the statutory income which is equal to the amount of qualifying expenditure incurred by that person for the purpose of obtaining a green building index certificate issued by the Board of Architects Malaysia.
(2) The qualifying expenditure incurred by the person referred to in subparagraph (1), prior to the issuance of a green building index certificate—
(a) shall be deemed to have been incurred on the day the green building index certificate is issued; and
(b) may be claimed in the basis period for a year of assessment when the person commences to carry on with his business at the building which is issued with that green building index certificate.
(3) Where by reason of an absence or insufficiency of statutory income of a person from his business for the basis period for a year of assessment—
(a) an exemption shall not be given or shall not be given in full to the amount to which the person is entitled under subparagraph (1) for that year of assessment; and
(b) the amount, which shall not be given exemption or shall not be given exemption in full as referred to in subsubparagraph (a) for that year of assessment, shall be exempted for the first subsequent year of assessment for the basis period for which there is statutory income from that business, and for subsequent years of assessment until the whole of the amount to which the person is so entitled is exempted.
(4) Nothing in subparagraph (1) shall absolve or be deemed to have absolved the person from complying with any requirement to submit any return or statement of accounts or to furnish any other information under the provision of the Act.
Qualifying expenditure under a hire-purchase agreement
6. (1) Where the person referred to in subparagraph 5(1) becomes a party of a hire-purchase agreement to purchase an asset for the purpose of his business which is being conducted at a building which is issued to it with the green building index certificate and incurs a qualifying expenditure, the person shall be entitled for an exemption in accordance with subparagraph 5(1).
(2) The amount of an exemption to be given in respect of the qualifying expenditure incurred by the person for the basis period for a year of assessment shall be—
(a) the capital portion of any instalment payment made by the person under a hire-purchase agreement; or
(b) where there is more than one payment, the aggregate of those payments, made by the person under a hire-purchase agreement.
(3) For the purpose of this Order, the person shall be deemed to be the owner of the asset purchased under a hire-purchase agreement.
Capital allowance and industrial building allowance
7. For the purpose of this Order, a person who incurs a qualifying expenditure referred to in subparagraph 5(1) shall only be entitled to make a claim for a capital allowance and industrial building allowance under Schedule 3 of the Act if the qualifying expenditure is a qualifying capital expenditure under that Schedule.
Certification by the Board of Architects Malaysia
8. The Board of Architects Malaysia may certify any other expenditure incurred, for the purpose referred to in subparagraph 5(1), to be the qualifying expenditure.
Application of paragraphs 5 and 6 of Schedule 7A
9. Paragraphs 5 and 6 of Schedule 7A of the Act shall apply, mutatis mutandis, to the amount of statutory income exempted from income tax which is derived from the activity referred to in subparagraph 5(1).
Made 23 November 2009
[Perb. CR(8.09)294/6/4-9(SJ.9)(2010); LHDN.01/35/(S)/42/51/231-17.11;
PN(PU2)80/LVIII]
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]
Subscribe to:
Posts (Atom)