2000 BUDGET ISSUE


 
OTHER ISSUES


1. Human Resource Development Fund (HRDF)

As a measure to upgrade the quality of the teaching staff of private institutions of higher learning, it is proposed they be required to contribute to HRDF. Thereafter, the cost of training staff of private institutions of higher learning in the fields of medicine, engineering and computer science will be eligible for a reimbursement of up to 95% from the HRDF.

2. Restriction on Payment of Dividends [Section 365 Companies Act]

Presently, the payment of dividends by a company for a financial year is restricted to an amount not exceeding :-

  1. the after-tax profit of that financial year; or
  2. the average dividends declared in respect of the two financial years immediately preceding that financial year, whichever is greater.

It is proposed that the restriction on payment of dividends be removed with immediate effect.





|Home|Contents|

This report is reproduced with permission from Kassim Chan Tax Services Sdn Bhd (36421-T) and Deloitte Touche Tohmatsu Tax Services Sdn Bhd (151497-P).
Address: Level 16, Uptown 1, 1 Jalan SS21/58, Damansara Uptown, 47400 Petaling Jaya, Malaysia.
Tel: (603) 715 1888, Fax: (603) 715 7768, (603) 715 7769
Email:
tax@kassimchan.com.my / tax@deloitte.com.my

No part of this report may be reproduced in any form without the prior consent of Kassim Chan Tax Services Sdn Bhd and Deloitte Touche Tohmatsu Tax Services Sdn Bhd.

Another Malaysian resource site designed and hosted by MIR Communications Sdn Bhd.