Malaysia: Income tax exemption for statutory income derived from qualifying activities by state-owned enterprise PETRONAS and subsidiaries (from 2027 onwards)

Announcement

20 Jun 2014

In June 2014, the Malaysian government introduced Income Tax (Exemption) (No. 2) Order 2014. Under the Order, there will be a tax exemption on statutory income derived from qualifying activities related to the Refinery and Petrochemical Integrated Development Project (RAPID) Complex project.

Only state-owned enterprise Petroliam National Berhad (PETRONAS) and its subsidiaries are eligible for this exemption.

Source

Number of interventions

1 certainly harmful

0 likely harmful

0 liberalising

List of interventions

Implementation date

01 Jan 2011

Revocation date:

No revocation date

Updated: 20 Jun 2014

Tax or social insurance relief In force

In June 2014, the Malaysian government introduced Income Tax (Exemption) (No. 2) Order 2014. Under the Order, there will be a tax exemption on 50% of the statutory income derived from qualifying ac...

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