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Malaysia gazettes order on income tax exemption for modernising manufacturing activities

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Malaysia gazettes order on income tax exemption for modernising manufacturing activities

KUALA LUMPUR (Sept 2): The Malaysian Official Gazette Aug. 30 published an order providing an income tax exemption for companies making capital expenditures to modernise or automate their manufacturing activities.

Taxpayers must apply for the exemption: a) by Dec. 31 for companies upgrading manufacturing processes for rubber, plastic, wood, furniture, or textiles in 2015 through 2017; or b) by Dec. 31, 2020, for all other companies with qualifying projects in 2015 through 2020.

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