R&D companies are now required to provide documentation to prove that they are undertaking activities relating to R&D as defined under the PIA and comply with conditions imposed previously in their Mida approval letters. – EPA pic, February 3, 2022.
THE definitions of “Contract Research and Development Company” and “Research and Development Company” under Section 2 of the Promotion of Investments Act 1986 have been amended to require approval as an R&D-status company by the international trade and industry minister effective January 1, the Malaysian Investment Development Authority said.
In a statement today, Mida said this is following the passing of the Finance Bill 2021 in Parliament on December 23, which incorporated several announcements made in Budget 2022 and contained proposed amendments, including to the PIA. Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!