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1.8 Incentives for Automotive Component Modules or Systems

New and existing companies that undertake design, R&D and production of qualifying automotive component modules or systems are eligible for:

  1. Pioneer Status with income tax exemption of 100% of the statutory income for a period of five years. Unabsorbed capital allowances as well as accumulated losses incurred during the pioneer period can be carried forward and deducted from the post pioneer income of the company; or
  2. Investment Tax Allowance of 60% (100% for promoted areas) on the qualifying capital expenditure incurred within five years from the date the first capital expenditure is incurred. The allowance can be offset against 100% of the statutory income for each year of assessment. Any unutilised allowances can be carried forward to subsequent years until fully utilised.

The qualifying modules or systems are front corner modules, rear corner modules, instrument panel modules, struts and absorbers and spring assembly modules, bumper modules, front cross member modules, function integrated door modules, fuel tank modules, seat modules, pedal modules, door trim modules, floor console modules, tyre and wheel modules, wiper systems, exhaust systems, audio systems, heater ventilation air-conditioning systems, power and signal distribution systems, alarm systems, seat belt systems, exterior lighting systems, body in white modules, engine management systems, safety systems, telematics, navigational systems, engine fuel injection systems, and vehicle intelligence systems.

1.8.1   Incentives for the Manufacture of Critical and High Value-added Parts and Components for the Automotive Industry

Companies undertaking the manufacture of selected critical and high value-added parts and components for the automotive industry are eligible for:

  1. Pioneer Status with income tax exemption of 100% of the statutory income for a period of ten years. Unabsorbed capital allowances as well as accumulated losses incurred during the pioneer period can be carried forward and deducted from the post pioneer income of the company; or
  2. Investment Tax Allowance of 100% on the qualifying capital expenditure incurred within five years from the date the first qualifying capital expenditure is incurred. This allowance can be offset against 100% of the statutory income for each year of assessment. Any unutilised allowances can be carried forward to subsequent years until they are fully utilised.

The qualifying parts and components for the automotive industry are as follows: 

  1. tranmission systems;
  2. brake systems;
  3. airbag systems; and
  4. steering systems.

The qualifying critical parts and components supporting the manufacturing of hybrid and electric vehicles are:

  1. electric motors; 
  2. electric batteries;
  3. Battery Management System;
  4. inverters;
  5. electric air conditioning; and
  6. air compressors.

Applications received by 31 December 2014 are eligible to these incentives.

Applications should be submitted to MIDA. 

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