New tax incentive for Malaysia Digital status companies

New tax incentive for Malaysia Digital status companies

PUTRAJAYA: The Malaysia Digital Economy Corporation (MDEC) will introduce a new tax incentive for Malaysia Digital (MD) status companies and existing Multimedia Super Corridor (MSC) status companies.

MDEC chief executive officer Mahadhir Aziz said the tax incentive to be announced in May, will be for digital initiatives in intellectual property (IP) and non-IP, and also in the form of investment tax allowance incentives.

“These incentives will be jointly announced with the Ministry of Digital, the Finance Ministry and the Investment, Trade and Industry Ministry,” he said in a statement today on MDEC’s aspiration for 2024.

On the Malaysia Digital Catalytic Programmes (PeMangkinMD) National e-Invoicing Initiative, he said it aims to empower businesses of all sizes to embrace digitalisation and streamline financial processes and also align with the upcoming National Micro, Small and Medium Enterprises Digitalisation Roadmap (NMD2030).

He added that MDEC will spearhead efforts to promote artificial intelligence adoption in the country and is committed to advancing Malaysia towards becoming a global digital powerhouse, driving innovation and positioning the country as the preferred digital hub of ASEAN.

Apart from that, he said MDEC is set to organise the Malaysia Digital Expo in October that will showcase cutting-edge digital initiatives and opportunities, as well as participate in the Smart City Expo World Congress in Barcelona in November this year.


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