Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia's national budget for 2023 was re-tabled again in February 2023.
To Download Revised Budget 2023 Speech and some other related publications - https://www.ccs-co.com/post/budget-2023-malaysia-madani
Current Position
The Securities Commission Malaysia has introduced the framework on Sustainable and Responsible Investment Sukuk (SRI), which enables fundraising by companies through financing towards improving sustainability practices and supporting the transition to low-carbon activities.
The framework on SRI-linked Sukuk aims to address a wider range of financing needs for companies at different stages of their sustainability journey, providing companies more opportunities for transition to net zero carbon targets and further meet the Government's desire to achieve net zero carbon emissions targets by 2050
Proposal
It is proposed that a tax deduction be given for a period of 5 years on the cost of issuing SRI-linked Sukuk that is approved/permitted/deposited with the Securities Commission Malaysia to provide innovative Shariah-Compliant Financing and place Malaysia as a regional hub of SRI-Linked Sukuk Issuance.
Effective Date
From the year of assessment 2023 until the year of assessment 2027.
Comments
This proposal aims to incentivize companies to adopt sustainable and responsible investment practices and contribute towards the achievement of the government's net-zero carbon emissions targets by 2050.
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