Malaysia to offer tax breaks, incentives in Forest City development

Reuters

2024/09/20

KUALA LUMPUR, Sept 20 (Reuters) - Malaysia will offer tax breaks and incentives in a bid to lure investments to Forest City, a $100 billion development backed by Chinese developer Country Garden Holdings, state media reported on Friday citing the second finance minister.

Second Finance Minister Amir Hamzah Azizan said the incentives would include a concessionary corporate tax rate of between zero and 5%, special individual income tax rates of 15% for skilled-workers and Malaysians working in the area, as well as a zero percent tax rate for family offices, state news agency Bernama reported.

(Reporting by Danial Azhar; Editing by John Mair)

((danial.azhar@thomsonreuters.com;))

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Second Finance Minister Amir Hamzah Azizan said the incentives would include a concessionary corporate tax rate of between zero and 5%, special individual income tax rates of 15% for skilled-workers and Malaysians working in the area, as well as a zero percent tax rate for family offices, state news agency Bernama reported.  ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"02007":"碧桂园","BK1507":"粤港澳大湾区","BK1589":"北水核心资产","BK1555":"内房股","BK1610":"ETF&股票定投概念","BK1521":"挪威政府全球养老基金持仓","BK1240":"房地产开发"},"translate_title":"马来西亚将为森林城市发展提供税收减免和激励措施","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02007":0.9},"content_text":"KUALA LUMPUR, Sept 20 (Reuters) - Malaysia will offer tax breaks and incentives in a bid to lure investments to Forest City, a $100 billion development backed by Chinese developer Country Garden Holdings, state media reported on Friday citing the second finance minister.    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