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Investment tax allowance of 70pc or 100pc proposed

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THE Government plans to provide an investment tax allowance on a tiered basis of 70 per cent or 100 per cent.

Prime Minister Datuk Seri Anwar Ibrahim said the results-based incentive approach is a new dimension that uses a tiered system in giving incentives.“It will stimulate companies to generate economy through investment in high-growth and high-value fields and further create new economic clusters, expand domestic networks and balance economic and environmental sustainability,” he said when tabling Budget 2024.

SPONSORED CONTENT Daily Express members: Enjoy 1 for 1 signature cocktails and more at Hyatt Centric Kota Kinabalu Kota Kinabalu: DAILY EXPRESS is partnering with Hyatt Centric Kota Kinabalu to offer an exclusive deal for our members. Read more He added that the Government will give priority to future investments focused on high-growth and high-value areas to overcome the structural issues that plague the economic system, including the prematurely shrinking industrial sector.

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