KPMG: Extend investment tax exemptions to services sector

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KPMG Malaysia has hailed the investment tax exemptions announced for manufacturers in the National Economic Recovery Plan (Penjana), but feels they should be extended to the services sector.

Tai Lai Kok, Head of Tax at KPMG Malaysia, said the tax exemption on foreign direct investments (FDI) in the manufacturing sector would allow Malaysia to differentiate itself and encourage investors to choose Malaysia as the preferred investment destination in the region.

Meanwhile, Tai said the various digitalization and financing initiatives for small and medium enterprises (SMEs) and micro businesses, such as the training and support under the e-commerce campaign, grants and loans for the adoption of digitalization services, as well as the Penjana SME Financing and Microfinancing programs, would assist SMEs and micro businesses to recover faster and quickly adapt to the new normal.

Click to read the full article published in The Edge Markets

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