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Application for Pioneer Status Certificate

ARE YOU ELIGIBLE FOR TAX INCENTIVE?

Client’s challenges

KTP is experienced in applying PS certificate for manufacturing companies: –

  • To check whether the company’s activity is included in MIDA promoted activities listing.
  • To determine whether the company is fulfilled the PS requirement and prepare documentation.
  • To analyze and compare which tax incentive has higher tax saving (PS or Investment Tax Allowance).
  • To liaise with the MIDA officer for the best result of the outcome.

Impacts

KTP was successfully applying for PS certificate for the company which subjects to the fulfillment of the condition stated. The company enjoys a tax exemption of 70% on the statutory income for 5 years.

  • Lifting tax burden by enjoying tax exemption of 70% on the statutory income.
  • The company can use that amount that is supposed to pay for tax for other operating expenses for the company’s growth.
  • More dividend amount for shareholders.
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