Aspen (Group) Holdings’s subsidiary Aspen Glove has received approval from Malaysia’s finance minister for an income tax exemption for its business activity of designing, developing, and manufacturing of examination and surgical nitrile gloves.

The approval, granted under the Investment Tax Allowance (ITA) incentive scheme, entitles Aspen Glove to an allowance of 100% of its capital expenditure (excluding land cost) for a period of 10 years.

Aspen Glove shall be entitled to offset the allowance against 100% of its statutory income for each year of assessment. Any unutilised allowance can be carried forward to subsequent years until fully utilised. 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook