Kuala Lumpur - In the PM’s speech to introduce the Malaysia Budget 2011 it has been annouced to introduce tax exemptions in order to directly support companies which are dealing with Green Activities:
- Companies which are active in the field of Energy generation out of renewable resources or in the field of Energy Efficiency can apply for the “Pioneer”-Status. This leads to a tax exemption up to 100% for up to 10 years. Optional the “Investment Tax Allowance” could be used to reduce the tax burden by higher depreciation values.
- Goods used for the Energy generation out of renewable resources or Energy Efficiency are exempted from Import Duty and Sales Tax.
- Income received from trading with “Certified Emission Reduction” certificates is tax exempted.
Posted by Dr. Klaus Brachetti, 17.10.2010
