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BUSINESS

MGTC: 10,000 products, services to acquire MyHIJAU mark by 2023

08/09/2021 05:04 PM

KUALA LUMPUR, Sept 8 -- Malaysian Green Technology and Climate Change Centre (MGTC) expects 10,000 products and services to have acquired the MyHIJAU Mark by 2023.

The MyHIJAU Mark is a government initiative to promote the sourcing and purchasing of green products and services in the country. 

MGTC, which is a government agency mandated to lead the nation in the areas of green growth, climate change mitigation and climate resilience and adaptation, is anticipating more companies to register under the programme and tap into the benefits provided by the government.

A total of 7,498 products and services have been registered between 2015 and 2020, and listed under the MyHIJAU Directory.

The directory is an online platform for procurers, government ministries, and members of the public to find information about all green products and services that have been recognised under the MyHIJAU Mark.

MGTC’s Green Standard and Verification Centre senior executive Nur Syahira Abdul Rahim said registered green products and services under the MyHIJAU Mark will be listed in the MyHIJAU Directory as a source for government green procurement, including Government Green Procurement (GGP) and Green Private Purchasing (GPP). 

“To support the MyHIJAU Mark programme, the government has introduced green technology tax incentives such as Green Investment Tax Allowance (GITA) (Assets/Projects) and Green Income Tax Exemption (GITE) (Services). 

“Companies purchasing the MyHIJAU Mark registered products including equipment and systems are eligible for GITA, while new green service providers registered with the MyHIJAU Mark are eligible for GITE,” she said during a webinar on Government Incentives in the Green Technology Sector at the virtual International Greentech and Eco Products Exhibition and Conference Malaysia 2021 (IGEM 2021). 

Explaining further on the green technology tax incentives, Green Standard and Verification Centre manager Rosmah Mamak Rapi said GITA Assets is applicable for companies that undertake investments in a specific asset or project which promotes sustainability and a green environment. 

Rosmah said the verification for GITA Assets will be based on assets that are registered under the MyHIJAU Mark and listed under the MyHIJAU Directory.

“It also applies to companies that have incurred qualifying capital expenditure (CAPEX) in green technology investment. 

“Conditions for GITA Assets is that the asset must be owned by the company and business carried out in Malaysia, used for own consumption and not for income generation, and the CAPEX must be a qualified asset by the Ministry of Finance that have been verified by the MGTC,” she said. 

Meanwhile, verification for GITA Projects requires 60 per cent of the main equipment or assets to be recognised and registered under the MyHIJAU Mark or have product certification recognised by the MGTC.

“The project should enable positive impacts to the environment such as emission reduction, waste reduction and fuel savings, among others. 

“GITA Projects are pertinent for applications received by the Malaysian Investment Development Authority (MIDA) from Jan 1, 2020 to Dec 31, 2023, and it should be submitted to MIDA before the first qualifying CAPEX incurred, as well as the project obtaining conditional approval letter from MIDA,” she said. 

On GITE, Rosmah said it is applicable for companies that provide green services that support investment in green projects and are registered under the MyHIJAU Mark Service. 

“MGTC’s role is to verify the services provided by the applicant and the verification for GITE Services will be based on green service registered under the MyHIJAU Mark and listed under the MyHIJAU Directory with 100 per cent income derived from green technology activities. 

“The companies will receive an income tax exemption of 70 per cent on statutory income for qualifying green services for a period of three years from the year of assessment where the first invoice issued after the application to MIDA,” she said. 

-- BERNAMA


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