Malaysia Hotline: +603- 2141 8908
In
Malaysia, agriculture industry generates approximately 12 percent to the
national gross domestic product (GDP) and also reduce unemployment rate in
Malaysia. A number of departments and organizations are involved to ensure
smooth progress of agriculture industry in the country. Among some of the
departments are Department of Agriculture, Department of Fisheries, Malaysia
Agriculture Bank (BPM), Farmers’ Organization Authority (FOA), Malaysian
Agricultural Research and Development Institute (MARDI) and plenty more.
Plenty
of the allowances and incentives for the agricultural industry were introduced
and implemented according to National Agricultural Policy (NAP). It was
introduced in an effort to develop and elevate the sector to global market and
attract more investors to invest in Malaysia.
What is Qualifying capital expenditure?
Qualifying
capital expenditure is defined to include expenditure incurred on:
• Clearing
and preparation of land
•
Planting of crops
•
Provision of plant and machinery used in Malaysia for the purpose of crop
cultivation; and
•
Construction of access roads including bridges, construction or purchase of
buildings (including those provided for the welfare of people or as living
accommodation), and structural improvements on land or other structures which
are used for crop cultivation. Such roads, bridges, buildings, structural
improvements on land and other structures should be on land forming part of the
land used for the purpose of such crop cultivation.
In view of the time lag between start-up and
processing of the produce, integrated agricultural projects qualify for ITA for
an additional five years for expenditure incurred for processing or
manufacturing operations.
Related business:
1)
Food Production Incentives for New Projects
2)
Food Production – Existing Companies which Reinvest
3)
Incentives for 'Halal' Products
i.
Production of Halal Food
ii.
Halal Industry Development Corporation (HDC) Incentives
iii.
Double Deduction for Expenses to Obtain Halal Certification and Quality Systems
and Standards Certification
Contact us
If you have further queries, please contact Tannet
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
24 hours Hong Kong hotline：86-755- 36990589;
Email: mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my