Tax Relief Gives Renewable Energy Incentives

[RenewableEnergyAccess.com] The Malaysian government has proposed that tax exemption for pioneer status companies involved in generating renewable energy be increased from 70 percent to 100 percent of statutory income and the incentive period be extended from five to 10 years. According to Bernama, under Budget 2006, it also proposed that investment tax allowances of 60 percent be increased to 100 percent on the qualifying capital expenditure incurred within a five-year period. In addition, the incentive package of pioneer status and investment tax allowance as well as import duty and sales tax exemption are to be extended for another five years until Dec. 31, 2010. This incentive package also applies to companies providing energy conservation services.

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