KUCHING: Sarawak wants tax incentives for activities related to climate change mitigation to be maintained in Budget 2023.
State Deputy Energy and Environmental Sustainability Minister Dr Hazland Abang Hipni (pic) said such incentives would motivate companies to seriously take up climate change activities.
He said this included carbon storage, whereby carbon from elsewhere could be stored in Sarawak’s depleted oil wells.
“This industry is very capital intensive. It will be useful and helpful for the industry to have some kind of tax incentives, such as no corporate tax for the companies.
“That is the kind of incentives that the industry and climate change mitigation strategy are looking for,” he said on Thursday (Feb 16).
Dr Hazland, who was speaking at a press conference to announce the upcoming Asia Carbon Conference here, added that he would be meeting the Deputy Finance Minister next week to discuss the matter.
Budget 2023 will be tabled by Prime Minister Datuk Seri Anwar Ibrahim on Feb 24.
Source and read more at https://www.thestar.com.my/news/nation/2023/02/16/budget-2023-maintain-tax-incentives-for-climate-change-mitigation-urges-sarawak-deputy-energy-minister
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