Pioneer status is granted to companies who are producing promoted products or participating in promoted activities. The eligible companies may be partially or fully exempted from paying tax for a period of five (5) years. The official lists of the promoted products and activities are as follows:
The exempted income will be credited to exempt income account to be distributed as single tier exempt dividend to the shareholders.
To be qualified for full income tax exemption:
Meanwhile, the qualifications for partial exemption are:
If you need further clarification, please do not hesitate to contact our tax team.
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