Malaysia on September 21 announced new incentives at the launch of the Forest City Special Financial Zone to promote this $100 billion real estate mega project in Johor state.
Among the incentives are a 0% tax rate for family offices, a preferential corporate tax rate of 0 to 5% and a special 15% personal income tax rate for white-collar workers and Malaysians working here.
Forest City, with a duty-free island in a special financial zone, is seen as a “catalyst” for economic development in southern Malaysia, said Second Finance Minister Amir Hamzah Azizan.
According to him, the area has the potential to boost growth not only in Johor but also across the ASEAN region. Forest City also has the potential to develop into a globally recognized financial center, similar to Shenzhen in China and Dubai in the United Arab Emirates (UAE).
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Source: https://www.sggp.org.vn/malaysia-uu-dai-gioi-dau-tu-trong-sieu-du-an-100-ty-usd-post760091.html
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