Incentive for manufactured goods and agri produce
12 important questions on Incentive for manufactured goods and agri produce
What is the tax mechanism for AIE in the context of exports of goods and agri produce?
FOB = free on board[no other cost]
What are the conditions to fulfill for a company to claim AIE for exports for MITC?
- Company incorporated in Malaysia with at least 60% Malaysian ownership.
- Annual sales over RM10 million.
- No more than 20% of sales from trading of commodities.
- Local banking, finance, insurance, ports, and airport services. [BIPA]
What are the conditions to claim for exemption of income for significant increase in exports (ASIE)?
- Locally incorporated company, at least 60% owned by Malaysian citizens.
- Engaged in agriculture, manufacturing,
- Prohibited exports excluded.
- Sales to Free Trade Zones excluded.
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What are the criteria for achieving significant increase in export for AIE with value added?
- Achieve 30% or more value added (manufacturing co)
- IR [>=60% citizen owned/EPF, LTH, LTAT/ owned by IR co which is owned b Msian Citizen]
- increase in export for the yr
What are the 3 results of know the AIE rate for a manufacturing/agricultural company? (no need to memorise)
- 10% of increase export
- 25% of increase export
- 10%
Exports not including Free trade zone
What are the conditions to claim for penetration of new markets?
1a) Significant increase in export(>=50%)
- 30% of increase export
- 50% increase export
- 100% increase export
What expenses qualify for double deduction for promotion of exports?
- Market research
- Cost of preparing technical information
- Travel fares for export promotion
- Expenses for maintaining sales offices overseas
- Publicity and advertisement outside Malaysia
- Participation in approved exhibitions
- Registration of trademark or IP overseas
What are the conditions for travel fares to qualify for double deduction?
What is the policy on registration of trademarks or IP for double deduction?
Do billboard expenses qualify for double deduction?
What kind of exhibitions qualify for double deduction?
What is the rule for promotion of export?
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