Petroleum (Income Tax) Act 1967 (Revised 1995).

This Act aims to impose a tax upon income from the winning of petroleum in Malaysia, to provide for the assessment and collection thereof.
Petroleum income tax shall be charged for each year of assessment on the income of every chargeable person, being income derived by such chargeable person from petroleum operations. The chargeable tax for each year of assessment of a chargeable person shall be an amount equal to thirty-eight per cent of his chargeable income for that year of assessment.