Tax & Revenue

Recent Statutory Orders Gazetted in Relation to Income Tax Act 1967 and Stamp Act 1949

Date: 27 February 2019; Type: Circular; Source: Malaysian Institute of Accountants

This is to notify the various statutory orders relating to the Income Tax Act 1967 which have been recently gazetted. Circular No. 21/2019


To: All Accountants

1. RECENT STATUTORY ORDERS GAZETTED IN RELATION TO INCOME TAX ACT 1967

Members are hereby informed that the following statutory orders have been gazetted:

a) P.U.(A) 41/2019 - Income Tax (Exemption) (No 6) 2018 (Amendment) Order 2019

The aforesaid order was gazetted on 19 February 2019 to amend Paragraph 3 of P.U.(A) 385/2018 - Income Tax (Exemption) (No 6) Order 2018.

This order is deemed to have effect from the year of assessment 2018 and can be downloaded from e-Federal Gazette's website at the link below:

http://www.federalgazette.agc.gov.my/outputp/pua_20190219_PUA41_2019.pdf

b) P.U.(A) 42/2019 - Income Tax (Exemption) (No 7) 2018 (Amendment) Order 2019

The aforesaid order was gazetted on 19 February 2019 to amend Paragraph 3 and Schedule 2 of the P.U.(A) 386/2018 - Income Tax (Exemption) (No 7) Order 2018.

This order is deemed to have effect from the year of assessment 2018 and can be downloaded from e-Federal Gazette's website at the link below:

http://www.federalgazette.agc.gov.my/outputp/pua_20190219_PUA42_2019.pdf

c) P.U.(A) 43/2019 - Income Tax (Exemption) (No 8) 2018 (Amendment) Order 2019

The aforesaid order was gazetted on 19 February 2019 to amend Paragraph 3, Paragraph 7 and Schedule 2 of the P.U.(A) 387/2018 - Income Tax (Exemption) (No 8) Order 2018.

This order is deemed to have effect from the year of assessment 2018 and can be downloaded from e-Federal Gazette's website at the link below:

http://www.federalgazette.agc.gov.my/outputp/pua_20190219_PUA43_2019.pdf

d) P.U.(A) 53 - Income Tax (Exemption) Order 2019

The aforesaid order was gazetted on 25 February 2019 and applicable to Malaysia Japanese Yen Bonds -Series A (2019) Guaranteed by Japan Bank for International Cooperation i.e. for qualified Institutional Investors only.

This order has effect from the year of assessment 2019.

The details for application, exemption and non-application can be downloaded from e-Federal Gazette's website at the link below:

http://www.federalgazette.agc.gov.my/outputp/pua_20190225_PUA53_2019.pdf

2. RECENT STATUTORY ORDERS GAZETTED IN RELATION TO STAMP ACT 1949

Members are hereby informed that the following statutory orders have been gazetted:

a) P.U.(A) 49/2019 - Stamp Duty (Remission) Order 2019

The aforesaid statutory order was gazetted on 22 February 2019 in relation to stamp duty exemption for purchase of first residential property by a Malaysian citizen where the sale and purchase agreement is executed from 1 July 2019 to 31 December 2020 for property value of more than RM300,000 but not more than RM500,000.

This order comes into operation on 1 July 2019.

The details for application, exemption and non-application can be downloaded from e-Federal Gazette's website at the link below:

http://www.federalgazette.agc.gov.my/outputp/pua_20190222_PUA%2049.pdf

b) P.U.(A) 52/2019 - Stamp Duty (Exemption) Order 2019

The aforesaid statutory order was gazetted on 25 February 2019 in regards to stamp duty exemption on any instrument in respect of the issuance, guarantee and services in relation to the issuance of Malaysia Japanese Yen Bonds - Series A (2019) guaranteed by Japan Bank for International Cooperation (i.e. for qualified Institutional Investors only) by the Government of Malaysia which is executed on or after 26 February 2019 but not later than 31 December 2019.

This order comes into operation on 26 February 2019 and can be downloaded from e-Federal Gazette's website at the link below:

http://www.federalgazette.agc.gov.my/outputp/pua_20190225_PUA52_2019.pdf

Please be guided accordingly.


DR. NURMAZILAH
DATO' MAHZAN
Chief Executive Officer

 

P.U.(A) 41_2019_Income Tax (Exemption)(No 6) 2018 (Amendment) Order 2019

P.U.(A) 42_2019_Income Tax (Exemption)(No 7) 2018 (Amendment) Order 2019

P.U.(A) 43_2019_Income Tax (Exemption)(No 8) 2018 (Amendment) Order 2019

P.U.(A) 53_2019_Income Tax (Exemption) Order 2019

P.U.(A) 49_2019_Stamp Duty (Remission) Order 2019

P.U.(A) 52_2019_Stamp Duty (Exemption) Order 2019

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