Malaysia's Forest City Tax Incentives Likely to Attract Investment -- Market Talk

Dow Jones

2024-09-20

0612 GMT - The Forest City tax incentives introduced by Malaysia's government look set to attract capital to the $100 billion development and broaden its investor base. A 0%-5% corporate tax rate and a special individual income-tax rate of 15% for Malaysians and knowledge workers were among the incentives announced by second Finance Minister Amir Hamzah Azizan during the launch of the special financial zone. Family offices in Forest City will also have a zero tax rate, a first in Malaysia, with the program expected to be operational by 1Q 2025. Forest City, whose joint-venture partner is Chinese property developer Country Garden, was designated as a special financial zone in August 2023 to boost foreign investment and economic growth in Johor state. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

September 20, 2024 02:12 ET (06:12 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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A 0%-5% corporate tax rate and a special individual income-tax rate of 15% for Malaysians and knowledge workers were among the incentives announced by second Finance Minister Amir Hamzah Azizan during the launch of the special financial zone. Family offices in Forest City will also have a zero tax rate, a first in Malaysia, with the program expected to be operational by 1Q 2025. Forest City, whose joint-venture partner is Chinese property developer Country Garden, was designated as a special financial zone in August 2023 to boost foreign investment and economic growth in Johor state. 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A 0%-5% corporate tax rate and a special individual income-tax rate of 15% for Malaysians and knowledge workers were among the incentives announced by second Finance Minister Amir Hamzah Azizan during the launch of the special financial zone. Family offices in Forest City will also have a zero tax rate, a first in Malaysia, with the program expected to be operational by 1Q 2025. Forest City, whose joint-venture partner is Chinese property developer Country Garden, was designated as a special financial zone in August 2023 to boost foreign investment and economic growth in Johor state. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1240":"房地产开发","BK1507":"粤港澳大湾区","BK1610":"ETF&股票定投概念","BK1521":"挪威政府全球养老基金持仓","CHCO":"City Holding Company","BK1589":"北水核心资产","02007":"碧桂园","BK4211":"区域性银行","BK1555":"内房股"},"translate_title":"马来西亚森林城市税收优惠可能吸引投资——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CHCO":1,"02007":0.9},"content_text":"0612 GMT - The Forest City tax incentives introduced by Malaysia's government look set to attract capital to the $100 billion development and broaden its investor base. A 0%-5% corporate tax rate and a special individual income-tax rate of 15% for Malaysians and knowledge workers were among the incentives announced by second Finance Minister Amir Hamzah Azizan during the launch of the special financial zone. Family offices in Forest City will also have a zero tax rate, a first in Malaysia, with the program expected to be operational by 1Q 2025. 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