KUALA LUMPUR: Malaysia said it would expand tax incentives for companies that use the country as a base for conducting their regional or global business.
Effective this year, companies eligible for the government’s Principal Hub (PH) incentive will be able to enjoy a 10% tax rate for their operations instead of the wider corporate tax rate of 24%, the Malaysian Investment Development Authority (Mida) said.
Earlier companies eligible for the PH incentive could opt for the 10% tax rate only on income over and above the money they made the year before joining the programme, according to a MIDA official.