2000 BUDGET ISSUE   CONTENTS Income Tax Reduction in Personal Income Tax Rates   Co-operative Societies - Income Tax Rates   Income Tax Rate for Non-Resident Individuals   Income Tax Rate for Companies   Personal Deduction for Individual and Hindu Joint Family   Deduction for Medical Expenses - Serious Disease   Education or Medical Insurance Premium   Employees Provident Fund Annuity Scheme   Tax Exemption on Income in respect of Musical Composition / Translation of Books / Literary Work   Application to Vary Tax Instalments   Information Technology to Improve Management / Production Processes   Double Deduction of Ship Freight Charges   Annual Allowance Rates for Plant and Machinery   Industrial Building Allowance for Buildings Constructed on a Build-Lease-Transfer Basis   Tax Treatment on Interest-in-Suspense   Venture Capital Industry   Income Tax Exemption for Government Sponsored Unit Trusts   Corporate Debt Restructuring Expenses   Incentive for Tourism Sector   Incentive for Banks Achieving Loan Growth Target   Incentives for Mergers of Insurance Companies and Stockbroking Firms Petroleum Income Tax Disposal Value as Gross Income   Ministerial Power to Prescribe Rates for Capital Allowances   Transfers Subject to Control   Balancing Allowance Real Property Gains Tax/Stamp Duty Securitisation - Tax Exemption   Islamic Financing Instruments   Stamp Duty on Instrument of Transfer of Houses   Cancellation of Adhesive Stamps Indirect Taxes Extension of Tax Exemption on Spare Parts and Consumables   Computation of Sales Tax Payable   Reduction / Abolition of Import Duty Other Issues Human Resource Development Fund   Restriction on Payment of Dividends   Income Tax Self-Assessment for Companies   Payment of Tax by Instalment for Companies   Return of Income   Deemed Assessments for Companies   Payment of Balance of Tax by Companies   Power of Access to Buildings and Documents, etc Obstruction of Officers Offences Wilful Evasion Income Tax (Amendment) Act 1999 Income Derived by Non-Residents from Filming Activities in Malaysia Qualifying Plant Allowances in respect of Computer Software Incentive for Malaysian International Trading Company Double Deduction for the Promotion of Export of Services Rental Income from the Use of Malaysian Ships Amendment to Lists of Promoted Activities and Products Double Taxation Agreements Protocol Amending the Australia / Malaysia Tax Treaty Taiwan / Malaysia Indirect Tax Abolition of Import Duties Labuan Labuan Offshore Limited Partnership Regulations 1999   Labuan Offshore Securities Industry Regulations 1999   Tax Incentives and Other Measures - Labuan Other Issues Accreditation and Certification of Skilled Construction Workers   Workmen's Compensation   Exit Levy on Repatriation of Portfolio Funds Tax Cases Rules of Natural Justice Provisions for Accrued Vesting Benefits Not Tax Deductible   Interest Payments on Loan Tax Deductible   Expenditure Incurred to Increase Efficiency and Reduce Cost Deductible   Write-off of Obsolete Stock Deductible   Source of Taxable Profits Determined Appendices Appendix I 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.