MIDA has issued a Guidelines for Incentive for Manufacturers of Pharmaceutical Products Including Vaccines Under the 2021 Budget on 27/8/2021. Key summary 1. Income tax rate of 0% to 10% for a period of 10 years 2. Income tax rate of 10% for the subsequent period of 10 years 3. Companies approved for this incentive are required to comply with conditions as specified by the Ministry of Finance Read the full story in our blog https://lnkd.in/g6DGBJ5H Source : MIDA Guidelines https://lnkd.in/gDRU5cvr ㊙️Have question on MIDA tax incentive? Call KTP. 퐕퐢퐬퐢퐭 퐮퐬 Wisma 퐊퐓퐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru Wisma 퐓퐇퐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru 퐊퐓퐏 (퐀퐮퐝퐢퐭,퐓퐚퐱, 퐀퐝퐯퐢퐬퐨퐫퐲) An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients Website www.ktp.com.my Instagram https://bit.ly/3jZuZuI Linkedin https://bit.ly/3sapf4l Telegram http://bit.ly/3ptmlpn 퐓퐇퐊 (퐒퐞퐜퐫퐞퐭퐚퐫퐢퐚퐥, 퐀퐜퐜퐨퐮퐧퐭/퐏퐚퐲퐫퐨퐥퐥, 퐀퐝퐯퐢퐬퐨퐫퐲) A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients Website www.thks.com.my Facebook https://bit.ly/3nQ98rs

1. 11/10/21
#AskKtpTax
Tax Incentive for Manufacturers of
Pharmaceutical Products Including
Vaccines Under the 2021 Budget

2. Tax Incentive for Manufacturers of Pharmaceutical
Products Including Vaccines Under the 2021 Budget
11/10/21
#AskKtpTax
Income tax rate of 0% to 10% for a
period of 10 years

3. Tax Incentive for Manufacturers of Pharmaceutical
Products Including Vaccines Under the 2021 Budget
12/10/21
#AskKtpTax
Income tax rate of 10% for the
subsequent period of 10 years

4. Tax Incentive for Manufacturers of Pharmaceutical
Products Including Vaccines Under the 2021 Budget
11/10/21
#AskKtpTax
Companies approved for this incentive are
required to comply with conditions as specified by
the Ministry of Finance

5. Tax Incentive for Manufacturers of Pharmaceutical
Products Including Vaccines Under the 2021 Budget
11/10/21
#AskKtpTax
The manufacturing company is to be incorporated
under the Companies Act, 2016

6. Tax Incentive for Manufacturers of Pharmaceutical
Products Including Vaccines Under the 2021 Budget
11/10/21
#AskKtpTax
The company is to possess a Manufacturing License from MITI
or
Confirmation Letter of Exemption from Manufacturing License
from MIDA.

7. Tax Incentive for Manufacturers of Pharmaceutical
Products Including Vaccines Under the 2021 Budget
11/10/21
#AskKtpTax
The company to undertake manufacturing of pharmaceutical
products including formulation in Malaysia (not including fill and
finish activity)

8. Tax Incentive for Manufacturers of Pharmaceutical
Products Including Vaccines Under the 2021 Budget
11/10/21
#AskKtpTax
The company is to incur the first capital expenditure within 1
year of the approval date

9. Tax Incentive for Manufacturers of Pharmaceutical
Products Including Vaccines Under the 2021 Budget
11/10/21
#AskKtpTax
The company is to commit its full capital expenditure as stated
in the approval letter within 5 years of its initial capital
expenditure

10. Tax Incentive for Manufacturers of Pharmaceutical
Products Including Vaccines Under the 2021 Budget
11/10/21
#AskKtpTax
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