The Malaysia government commitments toward green technology and energy efficiency are continued. This is shown during recent 2011 budget announced the Prime Minister. This will foster the development of renewable energy and energy efficiency in the country. Below are the highlight of the budget related to the RE and EE matters.
* Pioneer Status and Investment Tax Allowance for the generation of energy from renewable sources and energy efficiency activities to be extended until Dec 31, 2015.
* Import duty and sales tax exemption on equipment for the generation of energy from renewable sources and energy efficiency to be extended until Dec 31, 2012.
* Tax exemption on the income derived from trading of Certified Emission Reductions certificate to be extended until year of assessment 2012.
* Import duty and excise duty exemption duty to franchise holders of hybrid cars will be extended until Dec 31, 2011 with excise duty to be given full exemption. This incentive is also extended to electric cars as well as hybrid and electric motorcycles.
* Government will implement the Feed in Tariff (FiT) mechanism under the Renewable Energy (RE) Act to allow electricity generated from RE by individuals and independent providers to be sold to electricity utility companies.
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