Page 64 - Official Year Book 2019
P. 64
ATEGY 1
Making Malaysia the Preferred Destination for Investment
A comprehensive review and revamp of the existing incentive Tax incentives will be provided to further promote high-value
framework, comprising the Promotion of Investments Act 1986, added activities in the Electrical and Electronics (E&E) industry:
special incentive package and incentives under the Income Tax Income tax exemption up to 10 years to E&E companies
Act 1967. investing in qualifying knowledge-based services; and
This new framework is expected to be ready by 1 January 2021. Special Investment Tax Allowance to encourage companies in
The Government will make available up to RM1 billion worth E&E sector that have exhausted the Reinvestment Allowance
of customised packaged investment incentives annually over five to further reinvest in Malaysia
years to the companies proving their ability to grow and export To encourage automation and to increase company’s productivity:
their products and services globally. Create additional 100,000 Accelerated capital allowance and automation equipment
high quality jobs for Malaysians.
capital allowance for manufacturing sector and services sector
Additional allocation RM10 million to The Ministry of on the first RM2 million and RM4 million.
International Trade and Industry (MITI).
Tax incentives in the Electrical and
Electronics (E&E) industry to encourage companies in E&E
sector that have exhausted the Reinvestment Allowance to
further reinvest in Malaysia
52 MALAYSIA BAHARU 2019: Official Year Book
Making Malaysia the Preferred Destination for Investment
A comprehensive review and revamp of the existing incentive Tax incentives will be provided to further promote high-value
framework, comprising the Promotion of Investments Act 1986, added activities in the Electrical and Electronics (E&E) industry:
special incentive package and incentives under the Income Tax Income tax exemption up to 10 years to E&E companies
Act 1967. investing in qualifying knowledge-based services; and
This new framework is expected to be ready by 1 January 2021. Special Investment Tax Allowance to encourage companies in
The Government will make available up to RM1 billion worth E&E sector that have exhausted the Reinvestment Allowance
of customised packaged investment incentives annually over five to further reinvest in Malaysia
years to the companies proving their ability to grow and export To encourage automation and to increase company’s productivity:
their products and services globally. Create additional 100,000 Accelerated capital allowance and automation equipment
high quality jobs for Malaysians.
capital allowance for manufacturing sector and services sector
Additional allocation RM10 million to The Ministry of on the first RM2 million and RM4 million.
International Trade and Industry (MITI).
Tax incentives in the Electrical and
Electronics (E&E) industry to encourage companies in E&E
sector that have exhausted the Reinvestment Allowance to
further reinvest in Malaysia
52 MALAYSIA BAHARU 2019: Official Year Book
