Altech Chemicals Limited (Altech/the Company) (ASX: ATC) (FRA: A3Y) is pleased to announce that it has been advised by the Malaysian Investment Development Authority (MIDA) that the application made by its wholly owned Malaysian subsidiary, Altech Chemicals Sdn Bhd for an Investment Tax Allowance (ITA) incentive has been approved under the High Technology category by the Ministry of Finance, Malaysia.
Malaysia has enacted several tax incentives to encourage particular forms of economic activity and investment. The current corporate profits tax rate in Malaysia is 24%, however with certain tax incentives like the Investment Tax Allowance (ITA) program, eligible companies might pay only minimal corporate tax.
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