SCHEDULE 2. AMENDMENT TO THE INCOME TAX ORDINANCE, 1956(Sabah No. 29 of 1956) (FINANCE ACT 1967

NO. 4 OF 1967
FINANCE ACT 1967

SCHEDULE 2. AMENDMENT TO THE INCOME TAX ORDINANCE, 1956(Sabah No. 29 of 1956)

SCHEDULE I. Deductions not allowed for royalties and other payments in respect of extraction of timber from forest.

SCHEDULE 2
[Section 2(2)

1. There shall be inserted in the Ordinance after section 13 the following new section:

13A. Notwithstanding the provisions of section 12, for the purpose of ascertaInIng the Income of a company for the year of assessment 1967 and for subsequent years of assessment, or the income of a person other than a company for the year of assessment

commencing on the 1st day of July,1967, and for subsequent years of assessment, no deduction shall be allowed in respect of-

(i) one half of the amount of any royalty paId or payable to the Government of Sabah or of any other State in
Malaysia for the extraction of timber from the forest or, where no such royalty is payable, one-half of the
amount of any duty paid or payable on the export of the timber so extracted, or

(ii) any sum, by whatever name called, paid or payable to a person other than a State Government for the use of a

licence or permit to extract timber from the forest.".