Malaysia Offers Zero Tax for Family Offices in $100 Billion Forest City Development
- Forest City will be first in Malaysia to provide the program
- The incentive will be operational by first quarter of 2025
Forest City in Iskandar Puteri, Malaysia.
Photographer: Aparna Nori/BloombergThis article is for subscribers only.
Malaysia is offering 0% tax rate for family offices to set up shop in its struggling mega-project Forest City, as it looks to revive investor interest in the $100 billion development near its border with Singapore.
The government is also offering a concessionary corporate tax rate of between 0% and 5% and individual income tax rate of 15% for knowledge workers and Malaysians working there, Malaysia’s Second Finance Minister Amir Hamzah Azizan said in Johor state on Friday.