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KUALA LUMPUR, April 6 (Bernama) -- MITI announced today detailed guidelines for the four new tax incentives introduced under the Malaysian 2015 Budget, for investors and companies in four different segments, namely:
- Incentive for Less Developed Areas;
- Incentive for Industrial Area Management;
- Capital Allowance to Increase Automation in Labour Intensive Industries; and
- Incentive for the Establishment of Principal Hub.
2. The objectives of the four new tax incentives are to:
i. promote balanced regional growth and inclusiveness, especially in the less developed areas;
ii. accelerate the shift of manufacturing and services sectors, from labour-intensive into high value-added, knowledge-intensive and innovation-based industries; and
iii. enhance the development of key services subsectors, in order to enhance the contribution to the economy;
MITI’s other incentives which were announced earlier in the 2015 Budget include:
- Incentive to Enhance Services Exports (to be managed by MATRADE)
- Small and Medium Enterprises – Access to Financing through High Impact Programmes (to be managed by SME Corp)
Source : BERNAMA
Date : 6th April 2015
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