ISKANDAR PUTERI: Forest City’s Special Financial Zone (SFZ) will prioritise two key sectors: banking and financial services, alongside logistics servi...
: Forest City’s Special Financial Zone will prioritise two key sectors: banking and financial services, alongside logistics services, global service centres, and transfer services.
Onn Hafiz made these remarks in response to a question from Fauziah Misri regarding the status and development of the SFZ at the Johor State Legislative Assembly meeting in Kota Iskandar today. For the mainland area, he outlined two key incentives: a 100 per cent investment tax allowance for five years, reducing statutory income by up to 100 per cent for the logistics service sector; and a five per cent tax rate for up to 20 years for global service centres and transfer services.
“The state government is fully committed to supporting the SFZ Forest City initiative, as it will significantly benefit Johor’s economic growth and provide high-income job opportunities for the people,“ he said.
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