KUALA LUMPUR, Oct 11 (Bernama) -- Budget 2027’s extension of the income tax exemption and fixed stamp duty rates on ship financing is expected to ease financing constraints for Malaysian shipowners facing stringent collateral requirements and mismatches between loan tenures and ships’ useful lives.
Business : Budget 2027: Tax, Stamp Duty Incentives To Ease Shipownersâ Financing Constraints
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Key points
- Maritime analyst Nazery Khalid said the two incentives announced under Budget 2027 could lower ship financing costs, particularly for vessels built locally, while creating more favourable conditions for the development of domestic shipping capacity.
- Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim announced the extension of the full income tax exemption for Malaysian shipping companies until the year of assessment 2036 when tabling Budget 2027, themed “Reaching for the Skies, While Anchored On Our Values”, in the Dewan Rakyat on Friday.
- The government also introduced fixed stamp duty rates on loans for the purchase or construction of Malaysian vessels, at RM2,000 for loans of up to RM100 million and RM5,000 for loans exceeding RM100 million.
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