Malaysian Government offers favorable conditions for investors in less developed areas

On 6 March 2018, Minister of International Trade and Industry (MITI) Datuk Seri Mustapa Mohamed presented “Malaysia Investment Performance Report 2017”. During the presentation he stated, that the Government aims to attract new investors to less developed parts of the country, since currently most of the funds are concentrated in Johor, Penang and Klang Valley.
Less Developed Areas Incentive was launched in 2015 and offers such benefits, as
• 100% income tax exemption up to 15 years;
• Stamp duty exemption;
• Withholding tax exemption on fees for consultancy services up to 2020;
• Import duty exemption on raw materials and components, that are not locally produced;
• Import duty exemption on machinery and equipment.