Friday, 06 Nov 2020 11:02 PM MYT
KUALA LUMPUR, Nov 6 — To spur economic recovery through investment activities and to create a multiplier effect for the economy, the government has proposed to review the tax incentives for companies which are relocating their operations to Malaysia and making new investments. Additionally, to boost the establishment of Principal Hubs in Malaysia, the government has proposed for the application period for Principal Hub incentive for companies undertaking qualifying services activities be extended for another two years.
It will also increase the sales limit for value-added and additional activities carried out in the Free Industrial Zone and licensed manufacturing warehouse from 10 per cent to 40 per cent of the company’s annual sales value.