Tax incentive for industrial estates not taken up: Guan Eng

KUALA LUMPUR: The government has provided 100% income tax exemption for five years to companies that undertake activities that are qualified in industrial estates, but it was not taken up, according to Finance Minister Lim Guan Eng (pix).
He said previously in the 2015 Budget, the government had introduced incentives for industrial area management aimed at creating an ecosystem to support industrial development in Malaysia.
"This incentive is given to companies that make applications to the Malaysian Investment Development Authority (Mida) for the period from Jan 1, 2015 to Dec 31, 2017," said Lim at the question-and-answer session at Dewan Rakyat today.
He was replying to a question from Ahmad Faizal Azumu (PH-Tambun) who asked whether the federal government would introduce tax incentives for developers of industrial areas.
"However, until the expiry date of the tax exemption application, Mida did not receive any application for its consideration even though the incentive eligibility criteria had been relaxed," he said. — Bernama