Carbon Capture Storage project incentives
The Malaysian Government is implementing tax and trade incentives for Carbon Capture and Storage (CCS) activities:
- companies undertaking in-house CCS activity are exempted from the Investment Tax Allowance for 10 years, can benefit from tax deductions for pre-commencement expenses within 5 years from the start of operations and from full import duty and sales tax exemption on related CCS equipment from 2023 to 2027, and t;
- companies undertaking CCS services may benefit from similar incentives, as well as from a 70% income tax reduction for 10 years.
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Technologies