KUALA LUMPUR: The Dewan Rakyat today passed the Free Zones (Amendment) Bill 2022 to amend the Free Zones Act 1990.
The bill which contained two clauses, among others, are aimed at amending the Free Zones Act 1990 (Act 438) to provide facilitation to the industry if there is a need to modify the terms and conditions based on the tax payers' need and do not give any implications to the government.
The Free Zones (Amendment) Bill 2022 which was tabled by Deputy Finance Minister II Yamani Hafez Musa was passed after it was debated by nine Members of Parliament.
Yamani Hafez said the amendments were made to include two new clauses to provide relaxation to the industry and business and obligations within a specified period in case of public emergencies or health crises.
"For example, people who are not satisfied with the decision of the free zones to obtain permission under the Free Zones 1990 regulations can submit an appeal within 30 days from the date of receipt of the permission granted by the zone authority.
"With the new provision on the period extension, in the event of a public emergency or public health crisis in the future, the Finance Minister can extend the period to the party in need," he added.
The Dewan Rakyat also passed the Tourism Tax 2017 (Amendment) Bill 2022 which among others is aimed at giving the Finance Minister power to determine details in invoices or receipts under this act.
During the winding up debate on the bill, Yamani Hafez said the amendment to Act 791 under the Tourism Tax 2017 (Amendment) Bill 2022 will allow the submission period for tourism tax statement to be extended for a specified period.
"Act 791 has set that payment must be made within 30 days after the taxable period. Nevertheless, if there is a health crisis such as pandemic and the industry are unable to make payment during the period they are allowed to, they will be charged a penalty.
"With the new provision, in the event of an emergency or health crisis in the future, the minister can extend the said period through official announcement or directive to the director-general," he said, adding this will give room to the industry to review and make payment without having to pay the penalty even though the period given to them has ended.
-- BERNAMA
Bernama
Wed Aug 03 2022
Yamani Hafez said the amendments were made to include two new clauses to provide relaxation to the industry and business and obligations within a specified period in case of public emergencies or health crises. - BERNAMA
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