TRX Marquee Incentives
Incentives are offered to qualifying TRX marquee status companies licensed to operate in the following financial services sub-sectors:
- Retail and/or merchant banking
- Islamic banking
- Takaful operators
- Capital markets services
The incentives offered will include:
- Industrial building allowances on the purchase or construction of property in TRX for use in their business (of providing financial services) at 10% per annum.
- Accelerated capital allowances (100% over 2 years for prescribed renovation costs).
- Deduction for prescribed relocation costs.
- Additional 50% tax deduction on rental expenses of TRX premises for 10 years.
- Stamp duty remission for first TRX rental/purchase agreement.
- Stamp duty remission for first TRX property loan agreement.
- Stamp duty remission on all services agreements entered into for a given period of time.
Qualifying companies must commence to undertake whole part of its business in the Tun Razak Exchange before 31 December 2020.
TRX Developer Incentives
The TRX developer incentives will only be given to developers who meet the stringent development criteria that will include a strong green ethos and sustainability. The tax incentive will include 70% tax exemption on income from the sale or rental of properties in TRX for a period of 5 assessment years.
The time frames for these incentives are restricted as follows:
- For the disposal of a building, the exemption will be given for a maximum of 5 years up to the year of assessment 2022;
- For the rental of a building, the exemption will be given for a maximum of 5 years up to the year of assessment 2027.