Please take note of the changes in the eligibility criteria for BioNexus Status application which took effect from 1st February 2012.

The change in the eligibility criteria was necessary to enhance the quality of the BioNexus Status framework and meet the changing requirements of the market.

You are required to fully understand the eligibility criteria before proceeding with your application and for comprehensive guidance on the application process for BioNexus Status.

Every BioNexus status company is guaranteed the below list of privileges devised to foster an environment for research and business development.

A company undertaking biotechnology activity and has been approved with BioNexus Status by the Malaysian Bioeconomy Development Corporation Sdn Bhd may apply for the following incentives: 

1. An exemption of 70% of statutory income:
• For a period of ten (10) consecutive years of assessment from the first year of the company derived statutory income from non-intellectual property of the new business; or
• For a period of five (5) consecutive years of assessment from the first year of the company derived statutory income from non-intellectual property of the existing business and expansion project; or
2. An allowance of 100% of the qualifying capital expenditure incurred within five (5) years. The allowance can be offset against 70% of the statutory income for each year of assessment derived from a new business or an expansion project. 
3. A BioNexus Status company is entitled to a concessionary tax rate of 20% on statutory income from non-intellectual property of the qualifying activities for ten (10) years upon the expiry of the tax exemption period. 
4. Exemption of import duty and sales tax on imported raw materials/components and machinery and equipment. 
5. Double deduction on expenditure incurred for R&D. 
6. Double deduction on expenditure incurred for the promotion of exports. 
7. With effect from 2 September 2006, qualifying buildings used solely for the purpose of biotechnology activities will be eligible for Industrial Building Allowance to be claimed over a period of 10 years. 
8. A company or an individual (that carry on business) investing in a BioNexus Status company is eligible for a tax deduction equivalent to the total investment made in seed capital or early stage financing.