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10% discount on the electricity bill of hotel, theme park, convention centres, shopping mall, local airline and travel agencies til June 2021

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10% discount on the electricity bill of hotel, theme park, convention centres, shopping mall, local airline and travel agencies til June 2021

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Stamp duty exemption of 50% on the purchase of new locally assembled vehicles used as tourism vehicles

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Stamp duty exemption of 50% on the purchase of new locally assembled vehicles used as tourism vehicles

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Incentive for employment of new graduate and conducting apprentice training program

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Incentive for employment of new graduate and conducting apprentice training program

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An incentive of RM1,000 per month for up to 3 months be given to private sector employers for each new graduate participating in an apprenticeship program.

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Give a tax allowance of 40%

Encouraged to import more high tech pharmaceutical products in order to improve the quality of healthcare in Malaysia.

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More people able to go back to their workplace to work instead of work from home, thus helping increase productivity of business.

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Encourage the pharmaceutical business to invest more in R&D

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Encourage the pharmaceutical business to invest more in R&D

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Encourage the pharmaceutical business to invest more in R&D of medical products including vaccines

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Patients can get a higher quality of healthcare

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Patients can get a higher quality of healthcare

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Patients can get a higher quality of healthcare.

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People can afford to buy medical products at lower prices.

People will be encouraged to do body check-ups and get medicine.

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Tax incentive for Companies Manufacturing Pharmaceutical Products Including Vaccines

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Tax incentive for Companies Manufacturing Pharmaceutical Products Including Vaccines

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In order to encourage the companies manufacturing pharmaceutical products which including the vaccines, in particular COVID-19 vaccine, to invest in Malaysia, the following tax incentives are proposed:

Income tax rates range from 0% to a maximum of 10% for the initial of 10 years.

The income tax rate for subsequent periods is 10% for 10 years.

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Government should propose a tax allowance of 10% on the capital expenditure of foreign investment in 5 years

To encourage more foreign investment in order to enhance more job opportunities.

Enhance business cash flow and invest in other sector in order to boost profitability

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Government should impose more tax incentives on the tourism industries such as:

Extension on the electricity bill discount till December of 2021

Income  tax exemption for 80% on statutory income of  the tourism related business such as airline, hotel and travel agencies til December 2021

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Access to the latest technologies and resources which will enhance effectiveness and efficiency of the business and achieve profit margin

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Increase competition among each industries which encourage business to grow and innovate for greatest profitability

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Release the Financial Burden of the Companies

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As there is minimum requirement of recruitment seat.

Decrease the unemployment rate and poverty

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Relaxation of tax incentive for Principal Hub at the tax rate of 0% - 10%  till 31 Dec 2022

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Relaxation of tax incentive for Principal Hub at the tax rate of 0% - 10%  till 31 Dec 2022

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New Company

0% income tax for 5 years + 5 years with at least RM10M annual operating expenditure, 5 key posts personnel and 50 high valued workers

5% income tax for 5 years + 5 years with at least RM5M annual operating expenditure, 4 key personnel and 30 high valued workers

Existing Company

10% of income tax for 5 years with at least RM10M annual operating expenditure, 5 key personnel and 30 high valued workers

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Increase the sustainability of the tourism industry 

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Increase the sustainability of the tourism industry 

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Reduce the operational expenditure to maximize the business’s cash flow

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Encourage investment in tourism industry

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Encourage investment in tourism industry

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Reduce the expenses of the tourism business which would like to purchase the new vehicles for business purpose

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Attracting Malaysian and foreigner to travel in Malaysia which will boost the revenue of travel agency and hotel industry

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Expansion of the scope of imposition of tourism tax on online reservation 

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Expansion of the scope of imposition of tourism tax on online reservation 

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Malaysian tourists and permanents residents are exempted from imposition of tourism tax

Tourism tax of RM10/ room/ night are imposed to the non-Malaysian and non-permanent resident in registered accommodation.

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Provide income tax rate deduction of 1% for the business which had employed 10% to 15% of OKU,  internship, disabled and retrenched workers out of total employees.

Living standards of these categories of workers will be improved

Intern will be given more opportunity to explore their skills and gain knowledge

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30% tax exemption of stamp duty on second house purchase

Must be mentioned that only one of the tax exemptions of stamp duty can be applied in the same year.

Encourage people who had purchased property in prior years to purchase a second house to do investment.

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People who lose their job during covid-19 can still afford the basic living expenses even though losing their job.

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Encourage the involvement of recusing contractors or developers to revive the abandoned housing project.

Spurred to take on unfinished properties and speed the completion of abandoned projects.

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More training and workshop can be conduct

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More training and workshop can be conduct

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Incentive received can be used to provide training and develop employee’s skills, thus business can maximize their productivity

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Encourage people to purchase their first house as well as increase home ownership.

Further alleviate the financial burden borne by the original house purchase.

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Encourage employers to provide more job opportunities to the new graduate, and also disabled and retrenched workers.

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Income tax exemption limit for compensation for loss of employment

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Income tax exemption limit for compensation for loss of employment

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Increased from RM 10000 to RM 20000 for each full year of service.

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Extension of Stamp Duty exemption for Abandoned Housing Projects

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Extension of Stamp Duty exemption for Abandoned Housing Projects

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Stamp duty exemption on loan agreements and instruments of transfer given to the recuing contractor or developer and original buyers be extended for a period of five.

The abandoned housing project must be certified by Ministry of Housing (MOH) and Local Government (KPKT).

Loan agreement and instrusment of transfer excuted from 1 Januanry 2021 until 31 December 2025.

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Stamp Duty Exemption for First Residential Home

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Stamp Duty Exemption for First Residential Home

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Full stamp duty exemption on both instrument of transfer and loan agreement for the purchase of the first residential property worth not more than RM500,000.

Sales and purchase Agreement executed from 1 January 2021 to 31 December 2025.

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Hiring disabled and long term unemployed employees

Employers will be given an additional incentive equivalent to 20% of the employee’s monthly income.