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    CONTENTS

1999 Budget Issue

 

Income Tax Basis of Assessment

 

  Self-Assessment

 

  Reinvestment Allowance

 

  Tax Treatment on Interest-in-Suspense Account

 

  Rental Income from the Use of Malaysian Ships

 

  Treatment of Actuarial Surplus
    Group Relief - Approved Food Production Projects
    Tax Deduction for Contributions to Approved Charity and Community Projects

 

  Interest Income of Unit Trust

 

  Overseas Leave Passage

 

  Pensions Exempted from Tax
    Employment on Malaysian Ship

 

  Non-Resident Relief
    Tax Incentives
    Trading Companies
    Development of Domestic Tourism
    Use of Sports, Culture and Arts Complexes
    Repair and Maintenance of Luxury Boat and Yacht in Langkawi
    Car and Motorcycle Racing
     
  Real Property Gains Tax/Stamp Duty Mergers of Financial Institutions - Relief from Real Property Gains Tax and Stamp Duty
    Service of Notices and Requisitions
    Exemption of Stamp Duty on Loan Refinancing Instruments
     
  Labuan Definition of Offshore Business Activity
    Definition of Shipping Operations
    Deletion of Fixed Fee Option
     
  Indirect Taxes Import Duties and Excise Duties
Increase / Reduction / Abolition
    Duty Exemption for Approved Sales Carnivals
     
  Other Issues Windfall Profit Levy on Crude Palm Oil and Crude Palm Kernel Oil
    Increase in Tax / Duty on Gambling Activities
    Road Tax for Vintage Car
     
  Other Tax and Investment Developments
  Income Tax Remittance of Income from Overseas
    Compensation for Loss of Employment - Schedular Tax Deduction
    Tax Deduction of Insurance Premiums for Education and Medical Policies
    Bonus Restriction
    Benefits-In-Kind
    Reinvestment Allowance
    Qualifying Plant Allowances in respect of Computers and Information Technology Equipment
    Qualifying Plant Allowances in respect of Control Equipment
    Qualifying Plant Allowances in respect of Heavy Machinery
    Double Taxation Agreements
     
  Service Tax Prescribed Establishment that Issues Charge or Credit Cards
    Rate of Tax for Charge or Credit Card Issued
     
  Labuan New Legislation
    New Guidelines
    Exemption of Withholding Tax on Rental Payment to a Non-Resident
    Permission to Incorporate Domestic Company to Carry Out Offshore Business
    Fees Payable to LOFSA
     
  Other Matters New Exchange Control Measures
    Employees Provident Fund
     
  Tax Cases Interest Income Assessed as Business Income
    Valuation of Property as Trading Stock
    Retirement Gratuity Assessable to Income Tax
    Entertainment
    What is a Manufactured Product?
     
  Annexures Guidelines on Criteria for an Education Policy and a Medical Policy
    Details on Changes in ECM Notices
     
  Appendices
    Abolition of Excise Duties
    Increase in Import Duties
    Increase in Excise Duties





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Full Report

Sections:

Introduction

Income Tax

Real Property Gains Tax/Stamp Duty

Labuan

Indirect Taxes

Other Issues

Other Tax and Investment Developments

Appendices



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