s 12 Amendment of Schedule 1
Schedule 1 to the principal Act is amended— (a) in Part I— (i) in paragraph 1, by substituting for the existing rates the following rates: “Chargeable Income RM Rate of Income Tax For every ringgit of the first 2,500 0 per cent For every ringgit of the next 2,500 1 per cent Chargeable Income RM Rate of Income Tax For every ringgit of the 5,000 3 per cent For every ringgit of the 10,000 5 per cent For every ringgit of the 15,000 9 per cent For every ringgit of the 15,000 15 per cent For every ringgit of the 20,000 20 per cent For every ringgit of the 30,000 25 per cent For every ringgit of the 50,000 28 per cent For every ringgit exceeding 150,000 29 per cent”; and (ii) in paragraph 1A, by substituting for the words “30 per cent” the words “29 per cent”; and (b) in Part IV, by substituting for the existing rates the following rates: Chargeable Income RM Rate of Income Tax For every ringgit of the 10,000 0 per cent first For every ringgit of the 10,000 1 per cent For every ringgit of the 10,000 4 per cent For every ringgit of the 10,000 7 per cent For every ringgit of the 10,000 10 per cent Chargeable Income RM Rate of Income Tax For every ringgit of the next 25,000 13 per cent For every ringgit of the next 25,000 17 per cent For every ringgit of the next 50,000 21 per cent For every ringgit of the next 100,000 24 per cent For every ringgit of the next 250,000 27 per cent For every ringgit exceeding 500,000 29 per cent”.;