SMEs, THIS IS JUST FOR YOU

Prime minister @MuhyiddinYassin announced an additional RM10 billion stimulus package specially for Small and Medium Enterprises (SMEs)

Here& #39;s a thread of the summary:

#covid19 #mco #stimuluspackage #sme

1) Increased wage subsidy

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">Companies that benefit from this subsidy need to retain their employees for 6 months (3 months during the subsidy period and another 3 months after that)
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">Maximum number of people increased from 100 to 200 employees

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">Only employees with less than RM4,000 monthly salary are eligible for this subsidy

2) Special PRIHATIN Grant

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">Total of RM2.1 billion available to all micro SMEs
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">RM3,000 for each SME and 700,000 of them will benefit from this
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">Interested SMEs to register themselves with @LHDNMofficial

3) Micro credit scheme interest rate abolished

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">The scheme has been extended to TEKUN Nasional with a maximum amount of RM10,000 for each micro SME
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">A total of RM200 million has been allocated

4) GLC landlords to exempt/discount rental

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">These Government-Linked Companies include MARA, Petronas, PNB, PLUS, UDA and other GLCs as well

5) Tax break for private landlords reducing rent

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">To be eligible for such tax break, landlords have to reduce at leas 30% of the rent

6) Levy for foreign workers reduced by 25%

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">However, this is not applicable to domestic workers

7) Moratorium for SMEs to submit statutory documents to SSM

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">The 30-day moratorium will be automatic

8) Deadline extended for submitting financial statements

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">Deadline extended for 3 months
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">Only applicable to SMEs with financial years ending September 30 to December 31, 2019
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">Need to apply such extension from Suruhanjaya Syarikat Malaysia (SSM)
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔸" title="Small orange diamond" aria-label="Emoji: Small orange diamond">No late fees imposed

Retweet this thread if you know anyone who would benefit from this!

Stay safe, stay strong and stay at least 1 meter away from each otherhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🙂" title="Slightly smiling face" aria-label="Emoji: Slightly smiling face">