Graphene Nanochem PLC (fka GRPEF)

[jupp]

Graphene NanoChem JV gets tax exemption

24 February 2015 | 09:26am
StockMarketWire.com - Scomi-Platinum Sdn Bhd - Graphene NanoChem's joint venture with Scomi Oiltools - has been granted a pioneer status for strategic project approval by Malaysia's Ministry of International Trade Industry for the planned 45,000 MT per annum nano-enhanced oil field chemicals facility in Port Klang.

Tthe Scomi-Platinum JV has been granted a full 10-year 100% tax-exempt status for its statutory income under which it is fully exempted from paying corporation tax on taxable income. Malaysia currently imposes a fixed rate of 25% corporate tax on chargeable income.

Graphene NanoChem chief executive Jespal Deol said: "We are highly encouraged by the strong support we continue to receive from the Government of Malaysia in advancing our technology platform and the growth plan of our business and this latest progress provides a significant financial benefit to the Group moving forward."
- See more at: www.stockmarketwire.com/article/4982529/Graphene-NanoChem-JV-gets-tax-exemption.html#sthash.dOAVEsCX.dpuf