Government announces Tax Incentives for Forest City Special Financial Zone
Malaysia’s Finance Minister II, Datuk Seri Amir Hamzah Azizan, in his keynote address announced the financial incentive package for the Forest City Special Financial Zone (“FCSFZ”) on 20 September 2024.
Forest City, dubbed as the ‘Jewel of the South’, is strategically located on four reclaimed islands in the Straits of Johore between the State of Johore and Singapore and has been declared a duty free zone recently.
To develop the FCSFZ into a preferred regional financial hub similar to Shenzhen in China and the Dubai International Financial Centre in the United Arab Emirates, the Finance Minister II announced a number of tax incentives
