Oil Palms in Sabah > Palm Oil Industrial Cluster (POIC)

Palm Oil Industrial Cluster (POIC)
www.poic.com.my

Main Incentives for Manufacturing Companies

New Companies

• Pioneer status : will enjoy a 100% tax exemption on their statutory income during their 5 year exemption period.

• Investment Tax Allowances : will enjoy an allowance of 100% on the qualifying capital expenditure incurred within a period of five years.

• Enhance incentives for the utilization of Oil Palm Biomass : Biomass companies that utilize oil palm biomass to produce value-added products such as particle board. MDF. plywood, pulp and paper are eligible:

• Renewable energy : Pioneer status with a tax exemption of 100% of the statutory income for a period of 10 year; or

• Investment tax allowances : 100% on qualifying capital expenditure incurred within 5 years. Allowance can be used to setoff against 100% of the statutory income in each year of assessment.

Incentives for the Agriculture Sector


- Pioneer status
- Investment tax allowance
- Incentives for food production
- Incentives for reinvestment in food processing activities
- Reinvestment allowance
- Reinvestment incentives for resources based industries
- Agricultural allowance

Incentives for Training


- Investment tax allowance
- Special industrial building allowance
- Tax exemption on education equipment
- Tax equipment on royalty payments
 

Incentives for Research and Development


- Contract R&D Company
- R & D Company
- In-house research
- Double deduction for R&D
- Incentives for researchers to commercialize research findings

Incentives for Environmental Protection


- Incentives for the storage, treatment and disposal of toxic and hazardous Waste.
- Incentives for energy conservation
- Incentives for waste recycling activities
- Incentives for the use of renewable energy resources
- Accelerated capital allowance
 

Type of Grants


- Business Planning and Development
- Product and Process Improvement
- Productivity and Quality Improvement and Certification
- RosettaNet Standard Implementation
- Enhancing Product Packaging Design and Labeling Capabilities of SMEs
- Development and Promotion of Ha/a/ Product
- Skills Upgrading
 

Incentives for Shipping and Transportation Industry


- Tax exemption for shipping operators

- Exemption from import duty and sales tax and prime movers and trailers
 

Others General Incentives

- Industrial building allowance
- Infrastructure allowance
- Tariff related incentives
- Incentives for export
- Training Incentives
- Incentives for Acquiring Proprietary Rights
- Incentives for Use of Information Technology
- Incentives for the Use of Environmental Protection Equipment
- Donations for Environmental Protection
- Incentives for Employees' Accommodation
- Incentives for Employees' Child Care Facilities

Export Promotion Activities


Grants to assist Small and Medium Enterprises (SMEs) under activities for the development of export markets. Eligible activities are :-

- Participation in trade missions, specialized selling missions and international trade fairs;
- Participation in Malaysia Trade Centre overseas;
- Preparation of promotional items;
- Promotion of brands overseas;
- Designing and improving packaging of products; and
- Participation in overseas international tenders.

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Oil Palm in Malaysia