Malaysia’s carbon tax will help achieve carbon neutrality by 2050

With the government’s intention to introduce a carbon tax to drive the environment, social and governance (ESG) agenda, Soh Lian Seng, Head of Tax at KPMG in Malaysia said sustainability was certainly a key focus in the Budget 2023 proposals.

“The extension of the Green Investment Tax Allowance (GITA) and Green Income Tax Exemption (GITE) by another two years to Dec 31, 2025, will also continue to incentivize and encourage businesses to accelerate the use of ESG-focused technology and embark on green projects,” he added.

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