MALAYSIA will offer tax breaks and incentives in a bid to lure investments to Forest City, a US$100 billion development backed by Chinese developer Country Garden Holdings, state media reported on Friday, citing the second finance minister.
Second Finance Minister Amir Hamzah Azizan said the incentives would include a concessionary corporate tax rate of between zero and 5 per cent, special individual income tax rates of 15 per cent for skilled-workers and Malaysians working in the area, as well as a zero per cent tax rate for family offices, state news agency Bernama reported. REUTERS