Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the application period for the tax incentives will be extended for another one year, and the scope of tax incentives will be expanded to companies in selected services sector, including companies adapting Industrial Revolution 4.0 technologies.
The government also plans to introduce a new tax incentive scheme for global trading centres, with an income tax rate of 10% for a period of five years and renewable for another five years, as a measure to enhance and simplify tax incentive for trading activities previously covered under the Principal Hub incentives.
Tengku Zafrul said in addition to the incentive for companies which are relocating their operations to Malaysia, a special income tax rate treatment for non-resident individuals holding key positions in companies investing in new strategic investments will also be introduced. "This tax incentive is limited to five non-resident individuals employed in each company that has been granted relocation tax incentive under the PENJANA initiative,” he said.
bring in those with high paying jobs but not the dirty and labour intensive ones
At the same time, you introduced unreasonable and difficult process to bring in expat? You should tighten on the criteria & those without proper sponsor coming here do scam activities or business, not punishing legal and proper MNCs that need to rotate the workforce globally
Yeah, with current infrastructure and internet support? Nope... Even if we had good infra, in covid-19!? Are we not having global health threat right now!?
Is this a joke ? Or the Govt is in denial
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