On 5.5.2020, the Prime Minister of Malaysia announced the government’s Short Term Economic Plan aimed at addressing the economic effects of COVID-19 https://www.thestar.com.my/news/nation/2020/06/05/pm-unveils-short-term-recovery-plan-to-boost-economy One of the many plans announced include a plan to attract foreign investors into Malaysia.
- 0% tax for 10 years for NEW investments in the Manufacturing sector with investments in fixed assets of between RM300 – RM500 million (USD70.3 – USD117 miilion); and
- 0% tax for 15 years for NEW investments in the Manufacturing sector with investments in fixed assets of above RM500 million (USD 117 million).
Details of this tax incentive will be announced soon by the relevant government body.
Malaysia is strategically located in the heart of South East Asia, home to 622 million people, Malaysia offers a cost-competitive location for investors intending to set up offshore operations for the manufacture of advanced technological products for regional and international markets https://www.mida.gov.my/home/why-malaysia/posts/
Do drop us an email should you wish to find out more about investments in Malaysia.