Kindly be informed that InvestPenang team continues to work from home and is reachable via emails. Please refer to our respective emails at https://investpenang.gov.my/about-invest-penang/.
Should you need to meet up , we are conducting our meetings virtually. You may connect with us for further arrangements.

Attractive tax incentive for company relocating to Malaysia

Jun 15, 2020

On 5 June 2020, government announced several attractive incentives for company that relocating to Malaysia:

0% tax rate for 10 years for new investment in manufacturing sectors with capex between RM300-500 million
0% tax rate for 15 years for new investment in manufacturing sectors with capex above RM500 million
100% Investment Tax Allowance for 3 years for existing company in Malaysia relocating overseas facilities into Malaysia with capex above RM300 million
Special Reinvestment Allowance for manufacturing and selected agriculture activity, from YA 2020 to YA 2021.
Establishment of Project Acceleration & Coordination Unit (PACU) at MIDA
Enhancement of Domestic Investment Strategic Fund
Manufacturing License approval for non-sensitive industry within 2 working days

For further info, pls visit: https://penjana.treasury.gov.my/pdf/PENJANA-Booklet-En.pdf

Source: MoF – Pelan Jana Semula Ekonomi Negara (PENJANA), Short Term Recovery Plan

WHAT’S HAPPENING

Attractive tax incentive for company relocating to Malaysia