Prospectus - Manulife Insurance Berhad

chapter11 TAX ADVISER’S LETTERpage6111 th January 2013The Board of DirectorsManulife Asset Management Services Berhad(formerly known as Manulife Unit Trusts Berhad)12 th Floor, Menara Manulife6, Jalan GelenggangDamansara Heights50490 Kuala LumpurDear SirsMANULIFE SHARIAH – DANA EKUITI – TAXATION OF THE FUND AND UNITHOLDERS1. This letter has been prepared for inclusion in the Prospectus in connection with the offer of unitsin Manulife Shariah – Dana Ekuiti (hereinafter referred to as “the Fund”).2. TaxationThe following is general information based on Malaysian tax law in force at the time of lodgingthis Prospectus with the Securities Commission Malaysia and investors should be aware thatthe tax law may be changed at any time. To an extent, the application of tax law dependsupon an investor’s individual circumstances. The information provided below does not constitutetax advice. The Manager therefore recommends that an investor consult his accountant or taxadviser on questions about his individual tax position.As the Fund’s Trustee is resident in Malaysia, the Fund is regarded as resident in Malaysia and isliable to pay Malaysian income tax (“income tax” or “tax”). The taxation of the Fund is governedprincipally by Sections 61 and 63B of the Malaysian Income Tax Act, 1967 (“MITA”).Under Section 2(7) of the Malaysian Income Tax Act 1967, any reference to interest shall apply,mutatis mutandis, to gains or profits received and expenses incurred, in lieu of interest, intransaction conducted in accordance with the principles of Shariah. The effect of this is that anygains or profits received and expenses incurred, in lieu of interest, in transactions conducted inaccordance with the principles of Shariah, will be accorded the same tax treatment as if theywere interest.Unitholders are also liable to pay income tax on income distributions paid by the Fund.3. Taxation of the Fund3.1 Income TaxThe income of the Fund in respect of dividends, interest or profits from deposits and otherinvestment income (other than income which is exempt from tax) derived from or accruingin Malaysia is liable to income tax. The income tax rate applicable to the Fund is 25%.Prospectus in respect of the Manulife Shariah - Dana Ekuiti