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New Investment Incentive Framework will balance Global Minimum Tax compliance with keeping Malaysia competitive

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KUALA LUMPUR: The New Investment Incentive Framework (NIIF) will balance complying with the Global Minimum Tax (GMT) while still keeping Malaysia comp...

From left: Socio-Economic Research Centre executive director Lee Heng Guie, Deloitte Malaysia country tax leader Sim Kwang Gek, Johan and Malaysian Investment Development Authority CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid during the panel session.The New Investment Incentive Framework will balance complying with the Global Minimum Tax while still keeping Malaysia competitive as an investment destination, said Datuk Johan Mahmood Merican, Secretary-General of Treasury, Ministry of Finance.

The NIIF is set to be implemented in the third quarter of 2025. The government has allocated RM1 billion for the initiative. Johan suggested that the past approach may have contributed to Malaysia’s low tax-to-gross domestic product ratio as past incentives were too broad based.

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