The Guidelines for Applying for the Special Tax Incentive to relocate businesses to Malaysia
Updated: Mar 12
The Government announced the Special Tax Incentive (for the Company) through the announcement of PENJANA on 5 June 2020.
The main objective of this incentive is to attract investors to relocate their businesses to Malaysia by addressing the risk of re-shoring.
Under Budget 2021, the Government has announced the Special Income Tax Treatment (for Individuals) at a flat rate of 15% for a period of 5 consecutive years to non-citizen individuals holding key positions (C-Suite) for strategic investments made by companies relocating their operations to Malaysia.
The Malaysian Investment Authority (MIDA) released Guidelines for Applying for the Special Tax Incentive to relocate businesses to Malaysia on 3.11.2022. We encourage readers who want to learn more about it, particularly the procedures, to download the guideline and read them in full.