Private hospitals involved in the healthcare tourism industry will be given 100% tax exemption for several initiatives that they take up.
Health Minister Datuk Seri Liow Tiong Lai said these included the construction of new hospitals and for the expansion, modernisation and refurbishment of existing ones.
He added that the Government was finalising the provision for tax exemption equivalent to 100% of qualifying capital expenditure.
Liow announced this at a press conference after opening HSC Medical Centre here yesterday.
The Government has also made provisions for expenses incurred by private hospitals to obtain domestic or internationally recognised accreditation to be eligible for double deduction incentive under the Income Tax Act 1967.
The accreditation includes those conferred by the Malaysian Society for Quality in Health or Joint Commission International.
Liow said 400,000 health tourists visited Malaysia last year and the industry was expected to attract 40,000 more this year.
“Last year, the industry generated RM380mil in revenue and the amount is expected to increase by at least 10% to RM430mil,” he said.
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