BioNexus is a special status awarded to qualified International and Malaysian bio-based companies undertaking value-added biotechnology and/or life sciences activities. The status endows fiscal incentives, grants and other guarantees to assist growth. Apart from the overall benefits and support, BioNexus companies are assured of a list of privileges as stipulated in the BioNexus Bill of Guarantees.
100% tax deduction to companies making any acquisition of platform technology within the bio-based industries.
Investment can be made in the form of swap shares, outright acquisition or acquisition of shares in bio-based companies.
Import duty exemption on raw materials, equipments and machineries to support the development of any pilot facilities.
THE INCENTIVES (COMMERCIALISATION)
100% income tax exemption from the day the company derives statutory income.
CONCESSIONARY TAX RATE
Concessionary tax rate of 20% of statutory income for 10 years.
Import duty &sales tax exemption on raw materials, equipments and machineries.
Double deduction on expenditure incurred for promotion of export.
Double deducation on expenditure incurred for research & development.
Industrial building allowance of up to 10 years.
Tax exemption on any divident repatriated from a BioNexus status company.
Tax deduction on any capital investment made into a BioNexus company.
Unrestricted employment of knowledge workers.
Freedom to source funds globally.