The Income Tax Act of 1957 (ITA) was changed on 9th February 2012 by the Finance Act of 2012, which reduced Section 54A’s 100% income tax exemption on statutory income earned from the operation of Malaysia ships to 70%. Regarding the taxes on Malaysia Ships, additional regulations were also made such as the necessity of treating each ship as a separate business source. The Ministry of Finance (MoF) decided to postpone the elimination of the tax exemption and the implementatio