The Malaysia Digital Economy Corporation (MDEC), supported by the Ministry of Digital (KD) and the Ministry of Finance (MOF), has launched a new tax incentive scheme for Malaysia Digital (MD) companies.
This initiative, aligned with Budget 2024, aims to stimulate the economy by encouraging investments in high-growth, high-value sectors and promoting environmental sustainability.
The scheme offers reduced corporate tax rates and investment tax allowances for companies leveraging advanced technologies like AI and blockchain. There are incentives for both new investments and expansions.
Innovative Tax
The initiative builds on the success of the Multimedia Super Corridor (MSC) and aligns with the MADANI Economy framework to enhance Malaysia’s appeal as a digital hub. Companies can apply for the incentive on the MDEC website.
“This MD tax incentive is a game-changer to cement Malaysia’s position as the digital hub of ASEAN,” says Ts. Mahadhir Aziz, CEO of MDEC.
“It aligns with current economic needs and international best practices, highlighting our commitment to leading the digital revolution. By attracting global talent and investment in high-growth sectors, we aim to create a thriving digital ecosystem, generate high-value jobs, boost R&D activities, and integrate cutting-edge technologies locally.”
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