Malaysia sweetens tax incentives for companies to set up hubs

Effective this year, companies eligible for the government's Principal Hub incentive will be able to enjoy a 10 percent tax rate for their operations instead of the wider corporate tax rate of 24 percent, the Malaysian Investment Development Authority said.

Companies that have yet to establish a presence in Malaysia can apply for tax rates of 0 percent and 5 percent for 10 years based on their investments and job-creation commitments. Previously the tax rates for such companies were 0 percent, 5% and 10 percent. "The review aims to make Malaysia competitive with other countries in the region as the optimal headquarters hub in Asia Pacific."

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