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Agribusiness

CLUSTER PROMOTED ACTIVITIES
AGRICULTURE AND AGRICULTURE RELATED SERVICES
  • Agriculture
    • Cultivation of kenaf, vegetable, fruit, herbs, spices or cocoa,
    • Biomass Plantation including cassava, acacia mangium, leucana leucocephala
    • Planting of Hevea brasiliensis
    • Floriculture  including ornamental flowers
    • Aquaculture
    • Inland and Deep sea fishing
    • Rearing of cattle, buffalo, goat, sheep, ostrich, turkey and quail
  • Agriculture – related services
    • Collecting, processing and packaging of agricultural produce
Types of Incentives
  1. A company investing in a related company that undertakes promoted agricultural/agro-based processing project and owns at least 70% shareholding in that related company
  2. Company undertaking the promoted project or activity
  • Deduction to the amount of investment made in the promoted project or activity.
  • Customised incentives based on merit of each case, or
  • Income tax exemption of 100% for 10 years commencing from the year company derives statutory income, or
  • Income tax exemption equivalent to 100% of qualifying capital expenditure (Investment tax allowance) for 5 years
  • Stamp duty exemption on land or building acquired for development;

Application to be submitted to ECERDC on or before 31 December 2020.