To accelerate the growth of Malaysia’s tech industry by promoting and upgrading policies/regulations to encourage and drive greater innovation to boost Malaysia’s overall Digital Economy.
The Industry Coordination Committee
The Intervention Committee
To identify and discuss matters relating to industry collaboration pertaining to digital tech initiatives that comes with regulatory challenges and issues
To assess, recommend, and escalate policy and regulatory issues relating to digital tech initiatives
- Private sectors to submit proposals to secretariat (online submissions)
- Secretariat (MDEC) to conduct pre-assessment with relevant stakeholders
- Secretariat to select and finalise proposals for council meeting
- Secretariat to circulate meeting invitation to council members
- Industry Coordination Committee Meeting will lead the following tasks:
- Presentation by proposal owners
- Discussion and deliberation by committee members
- Identify relevant stakeholders for the selected proposals
- Secretariat (KKMM) to circulate meeting invitations to relevant ministries, agencies and stakeholders
- Intervention Committee Meeting will lead the following tasks:
- Presentation by proposal owners
- Committee members to identify and set up solutioning taskforce
- To appoint the lead for the taskforce to carry out the next steps
- Project owners to work with taskforce for matters with regards to policies and regulations
- Taskforce to recommend next steps to the Committee Members
Have an idea worth exploring?
The Malaysia Innovation Policy Council welcomes any industry wide, beneficial ideas and changes from everyone. If you have an idea that can help, here’s how you can share it with us.
- The proposal must be related to digital tech initiatives to further improve the tech ecosystem and grow the digital economy of the country.
- Highlighted the regulatory challenges that comes with the proposed initiatives, and the economic and social impact if the problems are solved.
- Submission has to come from the private sectors and industry representative – i.e. associations, foundations, or working group of companies.
- The proposal must belong to one of these industry verticals.
- 1st Submission Batch: 25 April – 31 May 2019
- 2nd Submission Batch: 1 Aug – 30 Aug 2019
- 3rd Submission Batch: 1 Nov – 29 Nov 2019
Industry Coordination Committee Members:
- Ganesh Kumar Bangah, The National ICT Association of Malaysia (PIKOM)
- Mohammad Ridzuan Abdul Aziz, FinTech Association of Malaysia (FAOM)
- Lilyana Abdul Latif, Beta Foundation
- Dr V Sivapalan, Proficeo
- Stephanie Ping, WORQ / Malaysia Digital Hub
- Nadhir Ashafiq, The Lorry / eFounders Group
- Khairil Abdullah, Axiata Digital
- Rachel Heah, Maxis Communications
- Victor Chua, Malaysia Venture Capital & Private Equity Association (MVCA)
- Alan Lim, Malaysia Business Angels Network (MBAN)
- Khailee Ng, 500 Startups
- Thomas Tsao, Gobi Partners
- Dzuleira Abu Bakar, Malaysia Global Innovation & Creativity Centre (MaGIC)
- Razif Abdul Aziz, Cradle Fund
- Mahadhir Aziz, Futurise
*Note: Committee members are selected by rotation and invitation basis
- Autonomous Vehicles
- Navigation & Data Analytics
- Traffic Control / Management
- Fleet Optimisation
- Ride Hailing & Sharing
- Property Selling / Rental
- Mortgage / Lending
- Leasing / Renting
- Property Management
- Agent / Brokerage
- Data, Valuation & Analysis
- Tours & Activities
- Business Travel
- Hotel Management
- Bookings & Reservations
- Alternative Accommodation
- Airport Management
*Note: The Sub-Verticals are not limited to the list above only.
Update of MSC malaysia Status Tax Incentive
- We refer to the announcement by the Government of Malaysia on 12 June 2018, “Malaysia’s Commitment in International Tax Standard“, and the subsequent announcement by MDEC on 28 December 2018, titled “Important Update and Changes on MSC Malaysia BOG 5“.
- As stated in the aforesaid announcements, the identified tax incentives of Malaysia will need to be reviewed and amended to be consistent with the international standards, which also include the MSC Malaysia Bill of Guarantee (BOG) 5 (Tax Exemption).
- In accordance with the above exercise, the grant of MSC Malaysia Status and its incentives, including extension of income tax exemption period, or adding new MSC Malaysia Qualifying Activities, has been put on hold since 1 July 2018.
Changes to BOG 5 (Tax Exemption)
- Previously, the tax exemption for MSC Malaysia Status was granted for the income derived from MSC Malaysia Approved Activities. Moving forward, the tax exemption will be granted for income derived from either services activities (Services Incentive) and/or intellectual property (IP Incentive).
Status Update: Approval of MSC Malaysia Status Services Incentive (Non-IP)
- The MSC Malaysia Status Services Incentive has been approved by the Government and will be regulated under the new Income Tax (Exemption) (No. 10) Order 2018 [P.U.(A) 389/2018], which was gazetted on 31 December 2018.
- As for the MSC Malaysia Status IP Incentive, the policy is still under review process by the Government. MDEC will be releasing further information in due course.
Application of MSC Malaysia Status Services Incentive (Non-IP)
- Applications for MSC Malaysia Status Services Incentive can be made starting from 2nd April 2019.
- For more details about the eligibility criteria, and qualifying promoted activities and conditions, please refer to detailed Application Guidelines here.
- Application Forms can be downloaded from here and the completed application is to be forwarded to firstname.lastname@example.org.
- For further enquiries, please contact MDEC Client Contact Centre (CliC) at 1-800-88-8338 (within Malaysia) or +603 8315 3000 (overseas) or email at email@example.com.
- For frequently asked questions, please refer here.