Hi there,
I'm working on a Malaysian registered DP vessel on Malaysia waters, mainly offshore Labuan, Terengganu and Miri
According to INCOME TAX ACT 1967, Section 54A. Exemption of shipping profits, I seems to entitled for some kind of exemption from tax. I'm on contract basis, which i don't receive monthly salary. The company is paying my EPF, SOCSO and deducted PCB from my salary. I've been submitting BE for two years and pays my taxes as a good citizen should do.
my question is:
1. What is the reason behind for being tax exempted?
2. Is there any specific kind of vessel apply to this? or just any type of vessel?
3. If I am exempted, what kind of documentation i need to prepare? What is procedures to claim the money back?
4. (I know is impossible) Can i get exempted for what i had paid in the last 2 years?
thanks for your input, i appreciated
Income Tax Issues
Oct 9 2010, 02:02 AM
Quote
0.0368sec
0.28
7 queries
GZIP Disabled