FINANCIAL INCENTIVES FOR GREEN TECHNOLOGY AS ANNOUNCED UNDER BUDGET 2020
Green Investment Tax Allowance – GITA (Project) :
Green Income Tax Exemption – GITE (Services) :
|Details||Application before January 2020||Application starts 1 January 2020|
|Exemption rate||100% of Statutory Income||70% of Statutory Income|
|Exemption period||31 December 2020 or up to 3 years of assessment||3 years of assessment|
|Incentive period||Application for extension must be before 31 December 2020||1 January 2020 – 31 December 2023|
|Conditions||As current guidelines until 31 Dec 2019||New condition and criteria starts 1 January 2020|
For any latest Procedures, Guidelines and Forms kindly download from MIDA website. Please click here for further information.
Green Income Tax Exemption – GITE (Leasing) :
** GITE Incentive Guideline for solar leasing as announced under Budget 2020 is still under development.
Green Technology Financing Scheme 2.0 (GTFS 2.0)
GTFS is a financing scheme offered to investors which is supported by the government offering a 2% p.a. interest/profit rate subsidy for the first seven years and 60% government guarantee of green component cost to financial institutions.
For more information please visit : https://www.gtfs.my/