Malaysia contemplates tax incentives for agriculture

April 15, 2019

Malaysia plans to introduce tax incentives for farming and agricultural companies to increase its self-sufficiency level (SSL) for dairy-based products. Agriculture and Agro-based Industry Minister Salahuddin Ayub said the SSL for dairy products was at 4% in 2018. “We are encouraging local farmers to increase their productivity, as well as spur foreign investments.” The government has set a target for fresh milk to be fully supplied by local production by 2024 from the current 58.3%. To ensure sustainable and profitable revenue, the ministry plans to stimulate corn cultivation for livestock feed to reduce dependency on imports.