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Scope of Charge (World scope basis (Banking, Insurance, Air transport, Sea…
Scope of Charge
World scope basis
Banking
Insurance
Air transport
Sea transport
Section 3 of Income Tax Act 1967
Malaysia Income
Tax: YES
Foreign Income
Remit Malaysia $
Tax: Yes
Revised paragraph 28 Schedule 6 of ITA 1967 : Income tax not charged
Not remit Malaysia $
Tax: NO
Territorial basis
Foreign company on carrying specialized business
Income Gain
Received in ordinary course of business
Capital Gain
Arising from speculative in nature