Structured internship Programme TalentCorp - No Gazette Order

Background of MySIP

The National Structured Internship Programme (MySIP) is developed to encourage companies to provide meaningful practical learning experiences through approved structured internships module for students.

As an employer who hires Malaysian full-time students from local IPTA or IPTS including higher learning institutions abroad and TVET institutions to undergo a structured internship programme endorsed by us, you will be eligible for a double tax deduction incentive for related expenses incurred on the interns throughout the programme.

Tax Implication of No Gazette Order

Taxpayers cannot claim double deductions on the hiring expenses under MySIP program until the gazette order is make to the public.

Once the gazette order is out, then taxpayers can revise the tax return submitted for the double deduction.

Terms and conditions of MySIP

To qualify for the MySIP incentive, your organisation must fulfil the following criteria:

Provide a minimum internship period of ten (10) weeks
Pay a minimum monthly allowance of RM600 for master’s degree, bachelor’s degree and Professional Certificate or equivalent
Pay a minimum monthly allowance of RM500 for diploma/Malaysian Skills Certificate (SKM) Level 1 to Level 5 or equivalent
Provide an internship framework that includes practical experience and emphasizes on the development of specific knowledge or skills for students and approved by TalentCorp
Registered with the Companies Commission of Malaysia (SSM)
Complete your MySIP registration at www.mynext.my

Contact TalentCorp

For more information on the MySIP or to get in touch with the team, you can write to: sip@talentcorp.com.my

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