s 39 Export allowance
(1) In ascertaining the adjusted income of a company for the basis period for a year of assessment, there shall be deducted from the gross income of the business of the company for that period an amount which shall be arrived at by applying subsection (2): Provided that this subsection shall not apply to a company— (a) for the period during which that company— (i) has been granted pioneer status in respect of any promoted activity or promoted product and which is applying or intends to apply for the grant of a pioneer certificate; or (ii) has been granted a pioneer certificate in respect of any promoted activity or promoted product and whose tax relief period has not ended or ceased; (b) for the period prescribed under paragraph 29(2)(b), (c) or (d) or subsection 29A(3) in respect of any promoted activity or promoted product for which the company has been granted approval under section 27; (c) for the period prescribed under paragraph 29 B(2)(b), 29 C (2)(b) or (c), 29 D (2)(b), 29 E (2)(b), 29 F (2)(b) or 29G(2)(b) in respect of an activity or of producing a product for which the company has been granted approval under section 27A, 27B, 27 C, 27 D, 27E or 27 F. (2) For the purposes of this section— (a) there shall be ascertained the amount, if any, of the gross income derived from— (i) the export of any agricultural produce declared in accordance with subsection (3); or (ii) the export by any trading company of any product manufactured in Malaysia; (b) the amount of deduction to be made under subsection (1) shall be an amount equal to three per cent of the gross income as ascertained under paragraph (a) which is derived from— (i) the export of agricultural produce in the basis period for a year of assessment; or (ii) the export by a trading company of products manufactured in Malaysia in the basis period for a year of assessment: Provided that where the basis period of a company for the year of assessment 1994 includes a period prior to 1 January 1993, the amount of deduction to be made under subsection (1) shall be the total of— (A) an amount equal to five per cent of the gross income as ascertained under paragraph (2)(a) which is derived from the export of agricultural produce or the export by a trading company of products manufactured in Malaysia in the period prior to 1 January 1993; and (B) an amount equal to three per cent of the gross income as ascertained under paragraph (2)(a) which is derived from the export of agricultural produce or the export by a trading company of products manufactured in Malaysia in the period after 31 December 1992. (3) The Minister with the concurrence in writing of the Minister of Finance may by statutory order in the Gazette— (a) declare any agricultural produce or products manufactured in Malaysia for the purposes of paragraph (2)(a); (b) add to, delete from, vary or amend any order made under this subsection. (4) This section shall apply to a company which— (a) is resident in Malaysia for the basis year for a year of assessment; and (b) is engaged in the export of agricultural produce and which has not been given an abatement under Chapter 4 of this Act in respect of the same product; or (c) is a trading company as defined under section 40.