Malaysia: Government unveiled new set of measures under the Malaysia Budget 2023

On 24 February 2023, the government of Malaysia issued Budget 2023, exempting import duties on nicotine gum temporarily. The import duty was reduced from 15% to 0%. The affected product is under the H...

On 24 February 2023, the government of Malaysia issued Budget 2023, exempting sales tax on the importation of nicotine gum and nicotine patch temporarily. The sales tax was reduced from 5% to 0% for n...

On 24 February 2023, the government of Malaysia issued Budget 2023, exempting import duties on equipment for the creative industry. The equipment included cameras and broadcast equipment, audio and vi...

On 24 February 2023, the government of Malaysia issued Budget 2023, exempting sales tax on the importation of equipment for the creative industry. The equipment included cameras and broadcast equipmen...

On 24 February 2023, the government of Malaysia issued Budget 2023, granting a tax concession to companies in the creative industry in the form of import duties exemption on equipment. This action onl...

On 24 February 2023, the government of Malaysia issued Budget 2023, granting a tax concession to companies in the creative industry in the form of sales tax exemption on the importation of the equipme...

On 24 February 2023, the government of Malaysia approved a RM 50 million (USD 11.26 million) matching grant to the agriculture sector to promote the use of robotics and AI. According to the Budget, th...

On 24 February 2023, the government of Malaysia increased the annual budget of a loan facility for agro-food entrepreneurs provided by the Bank Negara of Malaysia (BNM) from RM 500 million (USD 112.69...

On 24 February 2023, the government of Malaysia approved state support to rice farmers amounting to RM 1.37 billion (USD 308.78 million). There is no further clarification on the type of state aid tha...

On 24 February 2023, the government of Malaysia launched a RM 40 billion (USD 9.05 billion) loan facility for SME entrepreneurs. The budget for this measure is part of the Budget 2023, with RM 388.1 ...

On 24 February 2023, the government of Malaysia launched a RM 288 million (USD 64.91 million) financial grant for rice farmers. Each farmer will receive RM 200 (USD 45) per month for three months. Th...

On 24 February 2023, Khazanah Nasional Berhad (Khazanah), along with the Employees' Provident Fund Organisation (EPF) and other government-linked companies, launched a RM 1.5 billion (USD 338 million)...

On 24 February 2023, the government of Malaysia increased the annual budget for loan guarantees to SMEs provided by the Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP) from RM 10 billion (USD 2.2...

On 24 February 2023, the government of Malaysia unveiled a new loan facility of RM 1 billion (USD 220.7 million) for exporters under the Exporter Sustainability Incentive Scheme” (SIP2). "The scheme ...

On 24 February 2023, the government of Malaysia establishes the annual budget of a loan facility for SMEs in the tourism sector provided by the Bank Negara of Malaysia (BNM) at RM 500 million (USD 112...

On 24 February 2023, the government of Malaysia established a RM 3 billion (USD 662.1 million) loan guarantee to all eligible companies under the Green Financing Technology Scheme provided by the Syar...

On 24 February 2023, the government of Malaysia issued Budget 2023, exempting import duties on equipment used for Carbon Capture and Storage (CCS) technology. The CCS technology included: carbon capt...

On 24 February 2023, the government of Malaysia issued Budget 2023, exempting sales tax on the importation of equipment used for Carbon Capture and Storage (CCS) technology. The sales tax was reduced ...

On 24 February 2023, the government of Malaysia issued Budget 2023, launching a special tax deduction of up to RM 150'000 (USD 33,808.8) to Malaysian-made handicrafts purchased from local handicraft b...