FINANCIAL INCENTIVES FOR GREEN TECHNOLOGY AS ANNOUNCED UNDER BUDGET 2020

Extension of Green Investment Tax Allowance (GITA) & Green Income Tax Exemption (GITE) until 2023

Green Investment Tax Allowance – GITA (Project) :

  • GITA Investment Tax Allowance (GITA) of 100% of qualifying capital expenditure (QCE) incurred from the date of application received by MIDA until the year 2023 which comprises of Renewable Energy, Energy Efficiency, Green Building, Green Data Centre and Integrated Waste Management Activity.

Green Income Tax Exemption – GITE (Services) :

  • 100% of statutory income from the year of assessment where the date of application received by MIDA until the year 2023 which encompasses Renewable Energy, Energy Efficiency, Green Building, Green Data Centre, Green Township, Certification/Verification Bodies and Electric Vehicles (EV).
  • A 70% income tax exemption of up to 10 years will be given to companies undertaking solar leasing activities.

For any latest Procedures, Guidelines and Forms kindly download from MIDA website. Please click here for further information.

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/