Special Investment Tax Allowance for E&E Industry

The Special Investment Tax Allowance for the Electrical & Electronic (E&E) Sector incentive was announced in the National Budget 2020.

The Income Tax (Exemption) (No.10) Order 2021 (“Exemption Order”) has been gazetted and is effective from 1 January 2020.

Key salient features of Special Investment Tax Allowance for E&E Industry

Investment Tax Allowance of 50% on qualifying capital expenditure to be offset against 50% of Statutory Income.
The exemption period is valid for a period of 5 years starting from the date of the approval letter.
This Special Investment Tax Allowance is to encourage companies in the E&E sector that have exhausted the Reinvestment Allowance in Malaysia to further reinvest in Malaysia.
Manufacturing company incorporated under the Companies Act, 1965/2016, and residents in Malaysia.
Possess valid Business License from the relevant Local Authority.
Possess Manufacturing License (ML) from MITI or Confirmation Letter of Exempted from Manufacturing License from MIDA.
The applicant company is engaged in manufacturing activities in the
E&E sector.
The minimum investment in the related proposed projects shall be at least RM1.5 million in capital expenditure within a period of five (5) years.
The company to incur the minimum yearly operational expenses (as proposed by the company);
The company to hire a minimum number of Malaysian full-time workers (as proposed by company).
The applicant company shall at least satisfy one (1) of these
following conditions

1. Vendor Development Program or

2. Human Capital Development Program

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