Extension of tax deduction for BioNexus status companies

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The tax incentives for investors who invest in BioNexus status companies will be extended to 31 December 2022.  
  
BioNexus companies are companies which are engaged in the following businesses:
  • Biology
  • Medicine
  • Anthropology
  • Ecology; and
  • Any other branches of science.
  
This means that qualifying investments made between 1 January 2021 to 31 December 2022 will be allowed for the above mentioned tax deduction.
 
Taxpayer investors are eligible to claim a tax deduction of the actual investments made in BioNexus status companies against their business income in the year of assessment where the investments is made.

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