Tax credit & incentives
Malaysia has variety of tax incentives that cover the major industry sectors as Malaysian government intends to attract foreign direct investors to these industries. It can be granted through income exemption or through allowances.
Industries that may benefit from these tax incentives include ICT, venture capital, tourism, Islamic finance, environmental protection, energy conservation, manufacturing, healthcare, biotechnology, and agriculture.
Among the tax incentives that may be claimed include exemptions on income, double deduction of expenses, preferential tax treatments for promoted sectors, extra allowances on capital expenditure incurred, investment tax allowances, reinvestment capital allowances, and accelerated capital allowances.
By using these tax incentives, companies which are eligible for them are often able to pay tax at a rate below the standard corporate tax rate of 24%.
Your business accounting and tax preparation needs can become an increasing concern as your business evolves and as tax laws continue to change. We understand these concerns and provides tax preparation expertise to maximize tax credits and incentives.
We ensure you are filing the appropriate returns, identifying and minimizing tax exposure, and taking advantage of all applicable tax credits and incentives.
Get in touch with us to find out more how you can benefit from these tax credit and incentives.