So what is in it for Entrepreneurs and Investors opperating in Malaysia?
Here are some selected highlights we think are cool.
Promoting Venture Capital Companies
* Venture capital companies that invest at least 30% of their funds in start-up, early stage financing or seed capital be eligible for a 5-year tax exemption.
Towards A Vibrant Capital Market
* Tax exemption be given on fees received by domestic intermediaries, which successfully list foreign companies and foreign investment products in Bursa Malaysia. This measure will also enable domestic investors to acquire shares of foreign companies listed in the local exchange.
* Current tax rate on dividends received by foreign institutional investors from Real Estate Investment Trusts (REIT) be reduced from 20% to 10%. Recognising that REITs is an attractive investment product for individuals as well, the Government also proposes a reduction in tax rate from 15% to 10%.
* New investments by 4-star and 5-star hotel operators in Sabah and Sarawak be given Pioneer Status with 100% income tax exemption or Investment Tax Allowance of 100% for 5 years.
* RM50mil for conservation works of heritage sites in Malacca and Penang to support activities undertaken by non-governmental organisations (NGOs) and private sector.
Taken from thestar.com.my
If you feel like voicing out your opinions on the 2009 budget, join us at the [email protected] Budget Special
- What next after the Budget?
- Parents Should Invest in Young Entrepreneur’s Startup Dreams: An Africa’s Entrepreneur Example
- Effective Tax Planning for Business in Malaysia
- Guizhou-Malaysia Business Cooperation and Investment Seminar 2012
- MIRC SME ICT Summit 2008
- ICT Entrepreneur’s Reaction for the Prime Minister’s Budget 2013 Announcement