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Malaysia announces major tax breaks for digital companies



The Malaysia Digital Economy Corp (MDEC) will unveil new tax incentives in May for companies with Malaysia Digital and existing Multimedia Super Corridor (MSC) statuses, targeting digital IP and non-IP initiatives, including investment tax allowances. Announced by CEO Mahadhir Aziz, the move, in collaboration with the Ministry of Finance, aims to bolster Malaysia’s position in the global digital economy. MDEC’s efforts in 2023 led to MYR46.22bn (USD 9.77bn) in digital investments, surpassing its MYR30bn goal by 54%, and generating 22,258 high-value jobs. Notable investors included Amazon Web Services and Siemens Energy. MDEC’s 2023 revenue reached MYR8.87bn, with MYR3.18bn in digital exports to 17 countries, marking significant growth and enhancing Malaysia’s digital export footprint.

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