Pioneer Status For New Investments By 4-star, 5-star Hotels In Sabah And Sarawak

KUALA LUMPUR -- The government has proposed that new investments by four-star and five-star hotel operators in Sabah and Sarawak be given pioneer status with 100 per cent income tax exemption or Investment Tax Allowance of 100 per cent for five years.

Prime Minister Datuk Seri Abdullah Ahmad Badawi said the proposed incentives were to support the development of corridors in Sabah and Sarawak as well as to increase tourism activities in these states.

"The proposal is effective for applications received by the Malaysian Industrial Development Authority (Mida) starting tomorrow to Dec 31, 2013," he said in his Budget 2009 presentation at the Dewan Rakyat Friday.

He said that before this, new investments by four-star and five-star hotels were not given tax incentives like the one-star to three-star hotels.

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