Rules Issued for Malaysia's Principal Hub Incentive Scheme 3.0

Malaysia's Minister of Finance has issued the Income Tax (The Principal Hub Incentive Scheme) Rules 2022, which were published on 24 May 2022 and considered effective from the year of assessment 2021. The rules provide for the formal establishment of the Principal Hub Incentive 3.0, which is available for applications received by the Malaysian Investment Development Authority (MIDA) from 1 January 2021 until 31 December 2022. The rules are in line with the Guidelines for Principal Hub Incen…