The Malaysian Investment Development Authority (MIDA) has issued guidelines for the application of the new incentive for reinvestment introduced as part of the Budget 2024 for existing manufacturing and agricultural companies that have exhausted their reinvestment allowance (RA) incentive eligibility period. The incentive is meant to encourage companies to increase capacity and investment in high-value activities under the New Industrial Master Plan (NIMP) 2030. Some of the key points of the guidelines are summarized as follows: The tax incentive is broken down into two tiers: Tier 1: Investment Tax Allowance of 100% on the qualifying capital expenditure (excluding land cost)...