Malaysia - Minister hints at incentives for using green technology

Energy, Green Technology and Water Minister Datuk Peter Chin hinted that there could be tax and tariff incentives for companies and households that have energy-efficient and water-saving features in their office and homes. Current incentives offered by the government include the pioneer status and investment tax allowance. Companies generating renewable energy can enjoy import duty and sales tax exemption on imported machinery, equipment, materials, spare parts and consumables used directly in the generation process. For locally purchased machinery, equipment, materials, spare parts and consumables, full exemption is given on sales tax. The pioneer status, granted under the Promotion of Investments Act 1986, provides a 10-year income tax break for renewable energy businesses. Other incentives include a full tax allowance on qualifying five-year capital expenditure. (BT)



"ETITECH in focus ??"