News

GITA & Income Tax Exemption up to 10 years for solar leasing activities

KUALA LUMPUR, Oct 11  --  Companies undertaking solar leasing activities will be given the Green Investment Tax Allowance (GITA) and Income Tax Exemption of up to 10 years under Budget 2020, said Finance Minister Lim Guan Eng.

“We intend to attain Malaysia’s goal to generate 20 per cent of the country’s energy consumption from renewable sources by 2025,” he said when tabling the 2020 Budget at Parliament today.

Lim added that last year, the government had significantly expanded the qualifying list of green assets for GITA under the MyHijau directory.

Meanwhile through Energy Performance Contracting (EPC), the upfront capital investment into energy saving equipment for government buildings would be repaid through the savings in utility costs achieved.

In 2020, the government will accelerate EPC implementation for government buildings, prioritising hospitals and education institutions.

At the same time, Lim said the government has decided to migrate the current power purchase system towards a wholesale market in the future, as part of the liberalisation of the electricity market.

Renewable energy suppliers would also be able to compete directly in the retail market, he said.

He pointed out that the more transparent and competitive electricity market would ensure lower electricity costs for Malaysian consumers.

-- BERNAMA

 

 

 

 

 

 

 

    Other News

Sarawak Lepasi Sasaran Kapasiti Gabungan Tenaga Boleh Baharu Tahun Ini - Abang Johari

Oleh Nur Ashikin Abdul Aziz

SINGAPURA, 21 Okt (Bernama) -- Sarawak mencapai 62 peratus sasaran campuran kapasiti tenaga boleh baharu (TBB) tahun ini, melepasi sasaran 60 peratus yang digariskan dalam Strategi Pembangunan Pasca COVID-19 (PCDS) 2030.

Sarawak Pacu Pertumbuhan Tenaga Boleh Diperbaharui Untuk Manfaat ASEAN - Premier

SINGAPURA, 21 Okt (Bernama) -- Sarawak komited menyokong peralihan tenaga boleh diperbaharui di Asia Tenggara dengan memanfaatkan potensinya sebagai "Bateri ASEAN," yang akan membekalkan tenaga bersih menerusi sambungan Grid Kuasa Borneo dan ASEAN.             

Belanjawan 2025 Percepat Peralihan Kepada Tenaga Bersih - Solarvest

KUALA LUMPUR, 19 Okt (Bernama) -- Belanjawan 2025 merupakan satu langkah ke arah mempercepat peralihan kepada tenaga bersih di Malaysia, kata Solarvest Holdings Bhd.