Malaysia Introduced Tax Exemption Policy To Attract Investment

< p > Malaysia investment and Development Bureau (MIDA) recently released < a href= > //www.sjfzxm.com/ > > /a > measures, exempt from import tax and sales tax for machinery and equipment such as manufacturing industry, hotel industry 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 >" the Bureau of investment development points out that the qualified areas, namely, manufacturing enterprises, companies involving hotel business, and freight operators, can apply for exemption from import and sales taxes through independent declaration mechanisms.

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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Azman Mar, CEO of P > MIDA, said that since the implementation of the self declaration "a href=" //www.sjfzxm.com/ "duty-free /a" mechanism in May 2, 2014, 280 a href= "//www.sjfzxm.com/" companies have been benefited.

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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