Malaysia Announces 70% Tax Exemption for Shipping Industry

By Asean Briefing

Posted: 6th September 2016 08:07

Malaysia’s Ministry of International Trade and Industry revealed tax incentives on August 9th targeting the shipping industry. Incentives will be applied with immediate effect and will be available for periods of five years.
 
Understanding Incentives


Shipbuilding incentives will be applied to both shipbuilding companies as well as those involved in supporting industries such as ship repair. In terms of their structure, incentives target both existing and prospective investors. Those involved or considering investment in the aforementioned industries should make note of the following incentive particulars:
Implications for Investment

Incentives create significant advantages for those involved or considering investment in targeted industries. The possibility for increased investment in Malay ports also creates serious potential for the overall infrastructure surrounding the import and export of goods from Malaysia.

For advice on applying for incentives, comparing tax structuring options, or investing in Malaysia, please contact our tax and investment specialists at ASEAN@dezshira.com or contact our parent company online at www.dezshira.com
 
Since its establishment in 1992, Dezan Shira & Associates has been guiding foreign clients through Asia’s complex regulatory environment and assisting them with all aspects of legal, accounting, tax, internal control, HR, payroll and audit matters. As a full-service consultancy with operational offices across China, Hong Kong, India and emerging ASEAN, we are your reliable partner for business expansion in this region and beyond.
 
For inquiries, please email us at info@dezshira.com. Further information about our firm can be found at: www.dezshira.com

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