If you are an approved company by the TalentCorp, you are eligible to enjoy a double tax deduction on qualified expenses for provision of internships programme. The double tax deduction programme has now been extended until 2025.
This National Structured Internship Programme (MySIP) is a programme held by Talent Corp to encourage companies providing quality internship programme to talents. Companies can apply with Talent Corp to join this programme and enjoy a special double tax deduction on qualified expenses.
The government has extended MySIP from 2021 to 2025, which means companies can enjoy the double tax deduction for another 4 years!
MySIP is originally opened for students who pursuing their education in Malaysia. Now, this programme has included the students who studying abroad in the institution that recognized by Ministry of Higher Education Malaysia. This is another great news for both students and companies!
Read our article to know more about it if you intend to apply for a double tax deduction!
Approved company by the TalentCorp that implement a structured internship programme
Registered with SSM or recognized entities
Provide at least 10 weeks of internship programme
Provide at least RM500 of internship allowance (Diploma, SKM Level 1 to 5 or equivalent)
Provide at least RM600 of internship allowance (Degree, Master or equivalent)
Provide internship framework that approved by TalentCorp
- Diploma, SKM Level 1 to 5 or equivalent; or
- Degree, Master or equivalent
- Interns must be pursuing education / course in higher institution that registered with / recognised by Ministry of Higher Education Malaysia
- Interns must be a Malaysian
- Internship allowance
- Training expenses
- Traveling expenses
- Accommodation expenses
- Meal expenses
(Total deduction amount up to RM5,000, except internship allowance)
2017 – 2025
Kindly contact TalentCorp for more information