Tuesday, 1st June 2021
In view of the latest lockdown in Malaysia from 1st June to 14th June 2021, the Prime Minister has announced an aid package to help ease the burden of the people and in support of business continuity.
Here are some highlights from the announced package that apply to businesses:
One-month wage subsidy program of RM1.5b under SOCSO that will benefit around 2.5 million employees and 200,000 employers. Applications are limited to a maximum of 500 employees.
Employers are exempted from having to pay the levy in June 2021.
Employees can also upskill themselves by accessing HRDF’s learning portal e-Latih that offers over 300 courses.
SMEs and micro-enterprises will receive a special grant of RM1,500.00, with RM1,000.00 to be paid out in June, and another RM500.00 in July.
RM1.5bil allocation for micro credit facilities with 3% interest rate for businesses will be available from BSN, TEKUN, MARA, SME Corp, and Yapeim.
Tax penalties payments deferred
LHDN will consider deferring tax penalties and reschedule arrears payment to 2022.
Annual General Meetings
Deadlines for submission of financial statements and for holding annual general meetings will be extended.
SME loan facilities
An additional RM2b will be added to BNM’s SME loan facilities at 3.5% interest rate.