Promotion of Investments Act 1986 (Act 327) (As at 20th May 2013)

Promotion of Investments Act 1986 (Act 327)

(As at 20th May 2013)

An Act to make provision for promoting by way of relief from income tax the establishment and development in Malaysia of industrial, agricultural and other commercial enterprises, for the promotion of exports and for incidental and related purposes.

*Note: This book contains both the English and Malay versions.

Detailed Contents of Promotion of Investments Act 1986 (Act 327):

Malaysian law, known as the Promotion of Investments Act 1986 (Act 327), governs the promotion and regulation of investments in the nation. By offering incentives and a supportive environment for business, the Act seeks to promote both domestic and foreign investment in Malaysia.

The main clauses of the Promotion of Investments Act of 1986 (Act 327) are listed below:

1. Investment Promotion: The Act establishes the Malaysian Industrial Development Authority in order to promote investments in Malaysia (MIDA). MIDA is in charge of encouraging and facilitating investments in the services and manufacturing industries.
2. Tax exemptions, allowances, and other financial incentives are only a few of the investment incentives that the Act offers. These benefits are meant to entice both domestic and international investors to make investments in Malaysia.
3. Investment Protection: The Act includes provisions for investment protection to shield investors from expropriation, nationalisation, or other unfavourable government acts. The Act also allows for arbitration as a means of resolving issues between investors and the government.
4. Investment Approvals: The Act stipulates that MIDA must approve investments. The proposed investment, the investors, and the anticipated advantages and effects of the investment must all be included in the investor's application for approval.
5. Compliance Requirements: The Act imposes on investors a number of compliance requirements, including obligations for reporting and record-keeping. In Malaysia, investors must also abide by a number of laws and rules, including those pertaining to labour legislation and environmental protection.
6. Offenses and Penalties: The Act outlines a number of offences and consequences, such as fines and incarceration, for breaking the Act or its provisions.

The Malaysian Attorney General's Chambers website has the Promotion of Investments Act 1986 (Act 327) available. The Act has undergone numerous revisions since it was enacted, and the 20th of May 2013 version is the most recent one that is currently available.

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