Malaysia Introduced Tax Exemption Policy To Attract Investment

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< p > > a href= "http://sjfzxm.com/news/index_f.asp" > Malaysia < /a > investment and Development Bureau (MIDA) has introduced measures to exempt import tax and sales tax for machinery and equipment such as manufacturing, hotel and land pportation industry.

In addition, the self declaration mechanism is applied to the tax-free application. The approval time is shortened to 2 weeks from the previous 4 weeks. The time limit for approval is valid until 2017, without bank guarantee.

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< p > > a href= "http://sjfzxm.com/news/index_f.asp" > investment < /a > the development bureau points out that eligible fields, namely manufacturing enterprises, companies involved in hotel business, and freight operators, can apply for exemption from import and marketing tax through self declaration mechanism.

Under this measure, applicants do not need bank guarantee, they can avoid bank guarantee interest and import and export detention fees, which can improve business efficiency and reduce business costs.

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"P" > a href= "http://sjfzxm.com/news/index_f.asp" > MIDA < /a > Chief Executive AZ man Ma said that since the implementation of the self declaration tax exemption mechanism in May 2, 2014, 280 companies have benefited from it.

At present, a total of 1200 enterprises are applying for the offer. It is expected that 5000 enterprises will apply in the future.

MIDA is also studying the expansion of the tax exemption to the raw materials industry.

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