PM: 10 years tax exemption for Malaysian start-ups

More than 194K entrepreneurs have gained from assorted programmes carried out by MDEC


BEAM Team

12 Nov, 2017

PM: 10 years tax exemption for Malaysian start-ups | BEAMSTART News

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The Malaysian government has revealed a 10 years tax exemption plan for start-ups to grow their company worldwide, as mentioned by Prime Minister, Datuk Seri Najib Tun Razak, in a statement from The New Straits Times.

Besides tax exemption, the PM even revealed a bunch of efforts for start-ups and entrepreneurs in the nation, involving the application of GAIN, a Global Acceleration and Innovation Network programme that aspires to offer advisory services and know-how to prospective technology companies. This particular programme has already helped a total of 149 local tech companies.

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Additionally, the PM added that more than 194,000 entrepreneurs have benefited from the digital economy development programmes executed by the Malaysia Digital Economy Corporation (MDEC) from January 2016 till September of 2017 .

With MDEC's "eUsahawan" programme , there were 92,926 young and rural entrepreneurs receiving education through a variety of programmes facilitated at selected academic and technical vocational training facilities throughout Malaysia.

"Of them, 27,170 or 29 per cent of the participants have recorded additional total sales of more than RM112 million (US$ 27 million)," he said. Out of the total, 59% of the participants were women.

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