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A. The following incentives are offered to upstream petroleum industry:

    1. Marginal field incentive:
      1. Petroleum income tax rate at 25% compared to current rate of 38%
      2. Accelerated capital allowance from 10 years to 5 years
      3. Export duty exemption
    2. Investment allowance incentive for promoted activities as follows:
      1. High Pressure High Temperature
      2. High Carbon Dioxide
      3. Enhanced Oil Recovery
      4. Deep Water projects
      5. Infrastructure projects

Application must be submitted to:

      1. Petroleum Management Unit
      2. Petroleum Nasional Berhad
      3. Tower 2, Petronas Twin Towers
      4. Kuala Lumpur City Center
      5. 50888, KUALA LUMPUR

Guidelines and application form for incentives are as follows:

      1. Application guideline
      2. Guideline for incentives under Petroleum (Income Tax) Act 1967
      3. Guideline for incentives under Custom Act 1967
      4. Incentive application form

D. For reference, the list of related subsidiary legislation with regard to Petroleum (Income Tax) Act 1967 is as follows:

PUBLICATION DATEP.U NO.TITLE
29.3.2013 P.U.(A) 119/2013 PETROLEUM (INCOME TAX) (ACCELERATED CAPITAL ALLOWANCES) (MARGINAL FIELD) RULES 2013 -Petroleum (Income Tax) Act 1967
29.3.2013 P.U.(A) 120/2013 PETROLEUM (INCOME TAX) (INVESTMENT ALLOWANCES) REGULATIONS 2013
-Petroleum (Income Tax) Act 1967
29.3.2013 P.U.(A)121/2013 PETROLEUM (INCOME TAX) (MARGINAL FIELD) REGULATIONS 2013
-Petroleum (Income Tax) Act 1967
29.3.2013 P.U.(A)122/2013 PETROLEUM (INCOME TAX) (EXEMPTION) ORDER 2013
-Petroleum (Income Tax) Act 1967
27.2.2014 P.U.(A) 57/2014 PETROLEUM (INCOME TAX) (EXEMPTION) (AMENDMENT) ORDER 2014
-Petroleum (Income Tax) Act 1967
27.2.2014 P.U.(A) 58/2014 PETROLEUM (INCOME TAX) (ACCELERATED CAPITAL ALLOWANCES) (MARGINAL FIELD) (AMENDMENT) RULES 2014
-Petroleum (Income Tax) Act 1967
11.3.2014 P.U.(A) 69/2014 PETROLEUM (INCOME TAX) (INVESTMENT ALLOWANCE) (AMENDMENT) REGULATIONS 2014
- Petroleum (Income Tax) Act 1967

PDF copy of the legislation above can be downloaded from : www.federalgazette.agc.gov.my

E. Any general enquiries on the incentives can be submitted to the email address below :

This email address is being protected from spambots. You need JavaScript enabled to view it.

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