Malaysia Unveils Tax Breaks for New Economic Zone With Singapore

Malaysia unveiled a slew of tax incentives to lure investors to its joint special economic zone with Singapore that seeks to add $26 billion per year to the Malaysian economy by 2030.

Special company tax rates of 5% for 15 years and lower income taxes for knowledge workers were part of the package unveiled by Malaysia’s Finance Ministry and Johor state government on Wednesday. The incentives are effective from Jan. 1, according to a statement.

The package came a day after the leaders of Singapore and Malaysia officially launched the zone that links the border region. The Johor-Singapore Special Economic ...