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Benefits

- Faster Economic Growth. Encourage more productivity.
Suggestion

- Adapt the new Cukai Makmur Policy

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Benefit

- Faster recovery process for the infected business.
Suggestion

- Government should continue the extension for faster recovery of the industry

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Benefits
-  It have an evaluation score of 70% and eligible for the one-off tax deduction of up to RM 50,000 on expenses

Suggestion
- Due to the tax deduction on employees' accommodation can lighten the burden of the company, government should extend this tax deduction.

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Benefit
- Encourage more participation to develop local vendors.
- Increment intensity and ability of local vendors.
- Upgrade existing products or services.

Suggestion
- Government should continue on double deduction because this give impetus to anchor companies to develop programmes that will upskill their vendor companies.

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Benefit
- Encourage taxpayers to make certain types of purchases or to stimulate a flagging economy

Suggestions
- Government should continue the extension of tax rebate because it can reduce their cost and burden.

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- Period is extended to a period of 10 consecutive YAs
- Unabsorbed business losses up to YA 2018 can be carried forward up to YA 2028

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Extension period for unabsorbed business loss

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Extension period for unabsorbed business loss

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Existing
- Effective YA 2019, unabsorbed business losses are allowed to be carried forward for a period of 7 consecutive Yas Unabsorbed business losses up to YA 2018 can be carried forward up to YA 2025

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- One-off special tax ("Cukai Makmur") at the rate of 33% on chargeable income exceeding RM100 million for YA 2022

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Existing
- Companies other than micro, SMEs are taxed at a flat rate of 24%

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- Amount increased to RM500,000 for each YA, for 3 consecutive YAs.
- From 1 January 2021 to 31 December 2025, the incentive extended for MoUs signed between anchor companies and MEDAC.

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Extension of Double Deduction for Vendor Development Programme

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Extension of Double Deduction for Vendor Development Programme

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Existing
- An anchor company registered in Malaysia Companies Act 2016 and is a resident in Malaysia and participates in VDP is eligible for the incentive.
- The double deduction is limited to incurring qualifying expenditure of up to RM300,000 per YA.

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- Incentives will be extended for an additional year.
- The effective date is from 1 January 2022 to 31 December 2022.

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Further Tax Deduction on Expenses for Employees' Accommodation under Safe@Work

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Further Tax Deduction on Expenses for Employees' Accommodation under Safe@Work

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Existing
- A further tax deduction for rental expenses on premises for employee
- Manufacturing-related service companies that participate in the Safe@Work initiative
- Qualifying rental expenditure limited to RM 50,000 per company

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- It already proposed the establishment and operational period for new MSMEs through online platform be extended to 31 December 2022.

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Extension of Tax Rebate for Establishment of New MSMEs Entities

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Extension of Tax Rebate for Establishment of New MSMEs Entities

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Existing
- MSMEs give tax rebate up to RM20000 for each YA for first 3 year assessment.
- This tax incentives for MSMEs start from 1 July 2020 until 31 December 2021.

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5 areas of tax incentives in manufacturing industry

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5 areas of tax incentives in manufacturing industry