Malaysia to offer 5% tax rate for funds investing in local startups, state media reports

Malaysia is offering a concessionary tax rate of 5% for up to 10 years to eligible funds that invest at least 20% in local startups, state media reported on Tuesday, citing the second finance minister.

Second Finance Minister Amir Hamzah Azizan said the new venture capital tax incentive also includes a 10% tax rate for venture capital and private equity management companies registered with Malaysia's Securities Commission, state news agency Bernama reported.