To enhance competitiveness of local products in the global market particularly halal products and to encourage new investments in halal food production for the export market and to increase the use of modern and state of the art machinery and equipment in producing high quality halal food that comply with international standards, the following tax incentives are granted to companies:
- Double deduction
An amount twice the amount of the expenditure, not being capital expenditure, incurred by a company in the relevant period for the purpose of obtaining certification for halal certification, evidence by a certificate issued by a certification body as determined by the Minister:
- Investment Tax Allowance
Companies producing halal food be given Investment Tax Allowance of 100% of qualifying capital expenditure incurred within a period of 5 years. This allowance can be set-off up to 100% of statutory income in each year of assessment.