Malaysia to Roll Out New Incentives for Manufacturers From March

Malaysia will roll out new incentives for the manufacturing sector from March 1 under the government’s New Incentive Framework, the Ministry of Investment, Trade and Industry says in a statement.

• NIF incentives for the services sector will follow in the second quarter of the year, the statement says
• The framework adopts a tiered and outcome-based approach, and the government will no longer accept incentive applications under the Promotion of Investments Act 1986
  • Existing approvals under PIA will remain valid
  • Under NIF, the government will offer two mutually exclusive tax incentives, one being a special corporate income tax rate for a ...