MOF: No change to tax exemption status of religious institutions, 12 January 2017

MOF: No change to tax exemption status of religious institutions, 12 January 2017

January 12th, 2017/ Posted by admin

The Second Finance Minister, Inland Revenue Board (IRB) Chief Executive Officer, representatives from religious institutions and senior officers from the Ministry of Finance (MOF) met on 9 January 2017 to clarify the amendment to para 13(1) of Sch 6 of the Income Tax Act 1967. The MOF has clarified that the amendment does not intend to revoke the tax exemption status and also agreed to issue an exemption order under s 127 of the Income Tax Act 1967 to exempt all income of religious institutions that are registered under The Registry of Societies Malaysia or under any written law that governs these institutions.

Source: MOF website, 11 January 2017