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Schedule 1 to the principal Act is amended— Amendment of Schedule 1. (a) by substituting for the rates in paragraph 1 of Part I the following rates: "Chargeable Income Rate of Income Tax 2 per cent For every ringgit of the first $2,500 $2,500 5 per cent Chargeable Income $5,000 515,0v0y ringsit of the next $15,000 $20,000 $30,000 For every ringgit exceeding Rate of Income Tax 8 per cent 10 per cent 15 per cent 21 per cent 26 per cent 31 per cent 34 per cent $100,000 (b) by substituting for the figures "35" in paragraph 2 of Part I the figures "34"; (c) by substituting for the rates in Part IV the following rates: "Chargeable Income Rate of Income Tax 2 per cent For every ringgit of the first $25,000 $25,000 $50,000 $100,000 $250,000 For every ringgit exceeding $500,000 4 per cent 7 per cent 10 per cent 13 per cent 17 per cent 22 per cent 26 per cent 29 per cent 32 per cent 34 per cent ".