Income Tax Act 1967 s 111B

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s 111B Establishment of Fund for Tax Refund

(1) There is hereby established a fund, to be known as the Fund for Tax Refund (in this section referred to as “the Fund”) which shall be specified in and incorporated into the Second Schedule to the Financial Procedure Code Act 1957 [Act 61]. (2) There shall be paid from time to time into the Fund such amount of tax collected under this Act as may be authorized by the Minister. (3) The moneys of the Fund shall be applied for the making of a refund of an amount of tax paid in excess of the amount payable as ascertained in section 111 of this Act or any other refund or payment required to be paid out of the Fund as provided by any other written law. (4) The Fund shall be administered by the Accountant General of Malaysia. (5) Notwithstanding subsection (2) and the Financial Procedure Code Act 1957, the Minister may from time to time authorize the payment into the Consolidated Revenue Account in the Federal Consolidated Fund of all or any part of the moneys of the Fund.

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Find Act 53 on lom.agc.gov.my ↗

Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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