Extension of tax incentives for investments in a BioNexus Status Company

The tax incentives for investments in a BioNexus Status Company is further extended to 31 December 2024.

A BioNexus Status Company is a company which is engaged in a business of life sciences such as:

Biology
Medicine
Anthropology
Ecology; and
Any other branches of science.

For qualifying investments made between January 1, 2023 and December 31, 2024, a tax deduction from business income is possible in the year in which the investment is made, provided the conditions are met.

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