Driving Business Transformation, Technology and Digitization Adoption, Productivity Enhancement and Innovation

i.Support for Research and Development (R&D) by removing the RM50,000 threshold and the time bar and extend the AUTOMATIC double tax deduction to all companies including mid-tier and larger companies given their potential to spur innovation and creativity.

ii.Allocate RM100-200 million to set up a Future Manufacturing Fund to support R&D work and implementation of R&D by universities and key engineering research centres to support Industry 4.0 adoption and implementation by the manufacturing sector

iii. Research and Development (R&D) Voucher Scheme for SMEs – offer financing up to RM50,000 depending on company size which SMEs have to match with investments of up to 20% of the voucher amount in order to make it financially manageable for SMEs to embark on innovative activities. 

Article Reference : FMM