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Guidelines on the application for green technology tax incentives
In Budget 2020, the Government proposed to extend the green technology incentives for another three years (i.e. until YA 2023) and expand the scope of the incentives to include companies undertaking solar leasing activities (see Special Tax Alert: Highlights of Budget 2020).
In line with the above-mentioned proposals, the updated “Guidelines for Green Technology Tax Incentive (GITA / GITE)” were recently published on the MyHijau website to provide guidance on the following tax incentives:
(a) Green Investment Tax Allowance (GITA) Assets
(b) Green Investment Tax Allowance (GITA) Project
(c) Green Income Tax Exemption (GITE) Services
(d) Green Income Tax Exemption (GITE) Leasing
As applications for GITA Assets are to be submitted to the Malaysian Green Technology and Climate Change Centre (MGTC), whereas applications for the remaining incentives (i.e. Points (b) to (d) above) are to be submitted to the Malaysian Investment Development Authority (MIDA), MIDA has also published on its website the latest “Guidelines on application for incentive and/or expatriate posts for green technology” dated 25 January 2021, to explain the incentives under its care.
The key details for the above-mentioned incentives are summarized in the Appendix to this Alert.
Further details on the incentives and guidelines are available on the following websites:
- MyHijau website [GREEN INCENTIVES - MyHIJAU]
- MIDA website [Forms & Guidelines - MIDA | Malaysian Investment Development Authority > Services sector > F) Green Technology