Green Technology Tax Incentive for purchase and use of green technology were announced by the Prime Minister of Malaysia on 25 October 2013 during the Budget 2014. The Government provides Investment Tax Allowance (ITA) for the purchase of green technology equipment/assets and Income Tax Exemption (ITE) for green technology service providers.
The objectives of the tax incentives are:-
- To encourage investment in green technology on project basis either for
business purposes or own consumption; - To motivate companies in acquiring green technology assets; and
- To enhance the number of green technology service providers.
