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SMEs, THIS IS JUST FOR YOU
Prime minister @MuhyiddinYassin announced an additional RM10 billion stimulus package specially for Small and Medium Enterprises (SMEs)
Here's a thread of the summary:
#covid19 #mco #stimuluspackage #sme
Prime minister @MuhyiddinYassin announced an additional RM10 billion stimulus package specially for Small and Medium Enterprises (SMEs)
Here's a thread of the summary:
#covid19 #mco #stimuluspackage #sme
1) Increased wage subsidy
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)
Maximum number of people increased from 100 to 200 employees
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) Maximum number of people increased from 100 to 200 employees
Only employees with less than RM4,000 monthly salary are eligible for this subsidy
2) Special PRIHATIN Grant
Total of RM2.1 billion available to all micro SMEs
RM3,000 for each SME and 700,000 of them will benefit from this
Interested SMEs to register themselves with @LHDNMofficial
Total of RM2.1 billion available to all micro SMEs RM3,000 for each SME and 700,000 of them will benefit from this Interested SMEs to register themselves with @LHDNMofficial
3) Micro credit scheme interest rate abolished
The scheme has been extended to TEKUN Nasional with a maximum amount of RM10,000 for each micro SME
A total of RM200 million has been allocated
The scheme has been extended to TEKUN Nasional with a maximum amount of RM10,000 for each micro SME A total of RM200 million has been allocated
4) GLC landlords to exempt/discount rental
These Government-Linked Companies include MARA, Petronas, PNB, PLUS, UDA and other GLCs as well
These Government-Linked Companies include MARA, Petronas, PNB, PLUS, UDA and other GLCs as well
5) Tax break for private landlords reducing rent
To be eligible for such tax break, landlords have to reduce at leas 30% of the rent
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%
However, this is not applicable to domestic workers
However, this is not applicable to domestic workers
7) Moratorium for SMEs to submit statutory documents to SSM
The 30-day moratorium will be automatic
The 30-day moratorium will be automatic
8) Deadline extended for submitting financial statements
Deadline extended for 3 months
Only applicable to SMEs with financial years ending September 30 to December 31, 2019
Need to apply such extension from Suruhanjaya Syarikat Malaysia (SSM)
No late fees imposed
Deadline extended for 3 months Only applicable to SMEs with financial years ending September 30 to December 31, 2019 Need to apply such extension from Suruhanjaya Syarikat Malaysia (SSM) 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 other
Stay safe, stay strong and stay at least 1 meter away from each other
