R&D Tax Incentives for Bio-Based Industry

The Bioeconomy Tranformation Programme (BTP) launched in 2012 has swiftly become a game changer for Malaysia to become a high-income developed nation and would be a key contributor to economic growth for a productive, competitive and innovative economy. Reaffirming bioeconomy’s key role in Malaysia’s aspiration of becoming a high-income developed nation by 2020, the YAB Prime Minister announced the Bioeconomy Malaysia Accelerator Programmes in 2013. As the implementation agency, BiotechCorp will spearhead the flagship programmes.

Recognizing the importance of research and development (R&D) for the development of Bioeconomy, there will be two (2) R&D incentives for viable projects in bio-based industry:-

This incentive is for a Malaysian company acquiring a technology platform for the purpose of further R&D towards commercialisation. The proposed technology is required to be a bio-based related and approved by Malaysian Biotechnology Corporation Sdn Bhd. The incentive is allowed in the form of deduction against the adjusted income of the company (acquirer of the technology) for the same amount incurred/paid on the acquisition of the platform technology either from Malaysia or overseas.

BiotechCorp will evaluate and assess the application and the approval will be given on the merits of the application and the fulfillment of the eligibility criteria.

This incentive is for a Malaysian company importing machinery and/or equipment to be used directly for pilot plant for the purpose of pre-commercialization activities in Malaysia. Prior to an exemption to be granted, the proposed pilot plant must be approved by Malaysian Biotechnology Corporation Sdn Bhd.

BiotechCorp will evaluate and assess the application and the approval will be given on the merits of the application and the fulfillment of the eligibility criteria.

These R&D incentives will be finalized and ready for application soon. The tax guideline for the incentives will be published once it is finalized.

In the meantime, we would like to invite you to register your interest in applying for the incentives. We will forward you the application form once it is ready as well as keep you updated on the incentives.

If you would like to register your interest, kindly complete the online form by clicking link below. Please select the type of R&D incentive that you wish to apply in the future. Please also ensure all fields have been completed prior to submitting your details. An acknowledgement of your registration will be emailed after successfully
completing the process.

Please be aware that this is not an application for any of the R&D incentives.

Submission of a completed online registration and our acknowledgement of receipt does not confer approval or pre-qualification status on the R&D incentive.

If you have any queries regarding your registration, please contact Puan Norazamiah Ahmad at 03-2116 5406 or email norazamiah.ahmad@biotechcorp.com.my



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