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Forwarding Enquiry: Tax Incentive
Hi there,
My name's Mark and I'm a founder of a tech-based startup currently in stealth mode based in Australia.
We are interested in possibly moving to Malaysia, and in particular Cyberjaya for further operations as our target market is suited there.
Do you have a list of tax incentives that may be relevant to my business?
Regards,
Mark
My name's Mark and I'm a founder of a tech-based startup currently in stealth mode based in Australia.
We are interested in possibly moving to Malaysia, and in particular Cyberjaya for further operations as our target market is suited there.
Do you have a list of tax incentives that may be relevant to my business?
Regards,
Mark
Customer support service by UserEcho
Dear Mark,
Greetings from MDeC.
Thank for your interest in moving your business to Malaysia.
To begin with, we are pleased to inform you that Malaysia is one of the country that welcomes foreign investments. As a country, Malaysia offers a wide range of tax incentives depending on the type of industry you fall in to.
If you happen to run a business which falls under ICT Industry, among the most encouraging form of tax incentives will be either the Pioneer Status or the Investment Tax Allowance which falls under the Promotion of Investments Act 1986.
•Pioneer Status: 100 percent exemption on taxable statutory income for a period of up to 10 years (renewable after the expiry of the first 5 years, subject to compliance with terms and conditions, and relevant laws,); or
•Investment Tax Allowance: 100 percent deduction of qualifying capital expenditure against the taxable statutory income, for capital expenditure made during the first 5 years of its operation.
However, the above-mentioned tax incentives will only be applicable for an ICT company awarded with an MSC Malaysia Status. MSC Malaysia Status is a recognition by the Government of Malaysia through the Multimedia Development Corporation (MDeC), for ICT and ICT-facilitated businesses that develop or use multimedia technologies to produce and enhance their products and services.
For more information and insights of MSC Malaysia, please refer to the link below.
http://www.mscmalaysia.my/
We believe that the above would help you to have a brief idea on tax incentives for businesses in Malaysia specifically for ICT industry.
However, you may contact us at 1800-88-8338 / +603-83153000 (if you are calling from outside of Malaysia) or email us at clic@mdec.com.my should you have further inquiries or would like to submit any further feedbacks.
Thank you.
Regards,
Kavita Devi
MDeC Client Contact Centre (CliC)
Customer Service Division
Multimedia Development Corporation (MDeC)
DID: +603-8315 5605| Fax: +603-8315 3115|
http://www.mscmalaysia.my