Income Tax Law: Part III

Income Tax Act 1967 provides the following incentives:

* to promote investment in the services sector, namely
o Approved Service Projects
o Promotion of Export of Services
o Shipping Industry
o Operational Headquarters
o International Procurement Centre
o Research & Development (Double Deduction)

Reinvestment Allowance (RA) to encourage existing companies in the manufacturing and agricultural sector to reinvest.

* for other promoted activities such as
o use of computers
o environmental protection equipment
o Industrial Building Allowance (IBA) for approved buildings
o special building allowance for education
o special building allowance for accommodation for employees
o special building allowance for child care facilities for employees
o industrial building allowance for warehousing facilities
o capital allowance for heavy machinery
o double deduction for training
o gifts of used machinery and cash contributions
o pre employment training
o deduction for capital expenditure on approved agricultural projects
o double deduction of export credit insurance premiums
o special incentives for rattan and wood-based products
o industrial adjustment
o tax exemption for tour operators and convention organizers
o overseas investments
o proprietary rights
o companies in the programme to strengthen industrial linkages
o incentives to encourage the use of natural gas for vehicles (NGV)
o incentives to promote Malaysian brand names.

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Knowledge Base ID :   1339
Last Reviewed :   May 31, 2001

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