Industry incentive for sustainability
According to Halal Development Corporation Sdn Bhd (HDC), the export value in 2022 is expected to surpass the pre-pandemic level of RM42 billion. The continuous increase since the pandemic and its potential to grow even larger proves that the halal industry is a key contributor to Malaysia’s economy.
Malaysia is actively promoting investments in the halal sector, thus offering a wide range of tax incentives from double deductions to allowances such as:
- Incentives for the production of halal food
- Incentives for other halal activities – Park Operators
- Incentives for halal industry players
- Incentives for halal logistics operators
In this commentary piece, Nik Nabilah, Associate Director of Corporate Tax dives deep into Malaysia’s halal industry – including the economic opportunity, incentives and its potential to become a vehicle for sustainability.
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