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Revitalising economy through tough times

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From measures of easing the burden of taxes and providing job security, the National Economic Recovery Plan (PENJANA) worth RM35 billion is expected to address the issues by rejuvenating the economic sectors that have been badly affected by the pandemic, especially small and medium enterprises.

Tai Lai Kok, Head of Tax, KPMG in Malaysia said the Malaysia has placed bold measures to boost investments following the introduction of the 10 to 15 years of tax exemption for new foreign direct investment (FDI) in the manufacturing sector which involves capital investment of RM300 million or more.

Tai said these incentives, which are targeted for the manufacturing sector, ought to be extended to the services sector which could play an equivalent role in boosting the domestic economy.

Click to read the full article published in Bernama.com

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