FMM is proposing the government remove the time club for capital allowance or increase it by 10 to 15 years and improve the qualifying expenditure to RM10 thousand, ” it says.“
The RA includes a maximum claimable period of approximately 15 years and most businesses have exhausted this claimable period of time. The government introduced a Special RA in 2016 for 3 years and it will end this holiday season, ” says Lim. 0 also requires automation that they are integrated for maximum effectiveness.
“The industry needs the incentive to help invest and upgrade or automate machines to hold pace with the rapid complex developments. “Automation is long term, requiring substantial investments according that will resources and capacity. Industry FOUR. This is critical with the industry to stay competitive in the international market.
We have appealed into the government to extend the RA indefinitely to enable companies to stay reinvesting and upgrading their production processes.
The association also hopes how the government will introduce R&D voucher plans to encourage and support SMEs, remove concerns about theft of intellectual property and extend programmed double deduction on R&D for many companies. R&D voucher schemes are small personal lines of credit provided by the government to SMEs purchasing services from public knowledge providers to introduce innovations within their business operations,
as defined because of the Organisation for Economic Cooperation furniture mould as well as Development. ” The Federation of Malaysian Manufacturers (FMM) hopes that the validity period for the Automation Capital Allowance might be extended beyond 2020