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The Malaysian Digital Economy Corporation (MDEC) plans to introduce new tax incentives for digital status companies and existing Multimedia Super Corridor (MSC) status companies.
Chief executive Mahathir Aziz said the tax incentives to be announced in May would cover digital initiatives in both intellectual property and non-intellectual property areas, with investment tax relief incentives. Digital investment in 2023 reached RM46.22 billion, exceeding the target by 54%, creating 22,258 high-value jobs.
MDEC achieved revenue of RM8.87 billion in 2023, exceeding target by 18%, while promoting digital exports worth RM3.18 billion, an increase of approximately 81% compared to 2021.
(Source: theedgemalaysia Image source: freepik)
