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Extension of Tax Incentive for Pharmaceutical Companies

Updated: Jul 17, 2023

Update: The Ismail Sabri Government Budget is no longer applicable.


Malaysia's national budget for 2023 was re-tabled again in February 2023; for more info, please visit - https://www.ccs-co.com/post/budget-2023-malaysia-madani.


This tax incentive included in Budget 2023, tabled in Parliament on 7 October 2022, was not included in Budget 2023 (Re-tabled) on 24 February 2023.

MOF's response: Not applicable.
Current Position

To attract investment in Malaysia on the part of makers of pharmaceutical products, including vaccines, in particular, the COVID-19 vaccine, Manufacturer of pharmaceutical products is eligible for tax incentive as follows::

  • income tax rate of 0% up to 10%for the first 10 years; and

  • income tax rate of 10% for the subsequent 10 years.

The tax incentives will be effective for applications received by the Malaysian Investment and Development Authority from November 7, 2020, to December 31, 2022.

Proposal [This tax incentive included in Budget 2023, tabled in Parliament on 7 October 2022, was not included in Budget 2023 (Re-tabled) on 24 February 2023]

To further encourage the development and manufacturing of pharmaceutical products, particularly vaccines, the proposed tax incentive is extended for 3 years.

Effective Date

For applications received by MIDA from January 1, 2023, until December 31. 2025.



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