Friday, June 4, 2010

AirAsia gets 5 year extension of investment incentive

KUALA LUMPUR: AIRASIA BHD [] has received an extension of the investment allowance incentive for another five years to June 30, 2014. The extension is backdated from July 1, 2009.

With the extension, AirAsia is entitled to claim an income tax exemption in the form of an investment allowance of 60% on qualifying capital expenditure (capex) incurred within the period, which can be set off against 70% of statutory income for each year of assessment.

The approval is subject to the conditions that'' the qualifying capex incurred follows guidelines as prescribed by the Perintah Cukai Pendapatan (Pengecualian) (No 12) 2006 and shall exclude any aircraft not based in Malaysia.

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