Extension of tax deduction for BioNexus status companies

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.

 From The Newsletter


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