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Thursday, June 14, 2007

education about malaysian taxation principles and practice Part 5

6.0 Malaysia

Section 2 of the Act defines ‘Malaysia’ to mean :

“the territories of the Federation of Malaysia, the territorial waters of Malaysia and the sea-bed and subsoil of the territorial waters, and includes any area extending beyond the limits of the territorial waters of Malaysia, and the sea-bed and subsoil of any such area, which has been or may hereafter be designated under the laws of Malaysia as an area over which Malaysia has sovereign rights for the purposes of exploring and exploiting the natural resources, whether living or non-living.”

Malaysia would therefore include :

(i) Peninsular Malaysia;

(ii) East Malaysia (Sabah, Sarawak, Labuan);

(iii) Territorial waters of Malaysia;

(iv) Sea-bed and subsoil of the territorial waters; and

(v) Any other area in which Malaysia has the sovereign rights for the purpose of exploring and exploiting the natural resources such as fishing and petroleum extraction.

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