e-Newsletter: PEMERKASA+ Aid Package Highlights
Government reveals RM40 billion PEMERKASA+ aid package including RM5 billion direct fiscal injection, with three main goals: -
- Increasing public healthcare capacity
- Continuing Rakyat welfare agenda
- Supporting business continuity
Here are the salient points of the PEMERKASA+ aid package: -
- Government allocates RM2.1 billion for Bantuan Prihatin Rakyat (BPR) aid by end-June 2021
- RM500 for households with monthly income of up to RM2,500
- RM300 for households with monthly income between RM2,501 and RM5,000
- RM100 for single
- An option of automatic approval of loan moratorium for 3 months or a 50% reduction in loan repayment for 6 months start from June 2021 is granted to B40 groups who lost their jobs as well as SMEs that are not allowed to operate during MCO
- Bus and Taxi Hire Purchase Rehabilitation Scheme to allow eligible bus and taxi operators to get a loan moratorium of up to 12 months and extended repayment period of up to 36 months.
- Wage Subsidy Programme under PERKESO extended for 1 months for all affected economic sectors, with a limit of 500 employees per application.
- HRDF levy payment exemption for 1 month in June 2021.
- Extra RM500 payout for Geran Khas Prihatin (GKP) to SMEs and micro enterprises, bumping up the total to RM1,500; RM1,000 payout received in mid-June and balance RM500 in July 2021.
- RM1.5 billion in micro-credit facilities is made available to small businesses, street vendors and micro-enterprises at 3% interest rate by Bank Simpanan Nasional, TEKUN, MARA, SME Corp, and Yayasan Pembangunan Ekonomi Islam Malaysia.
- One-off aid of RM500 to tourist guides, taxi, rental, e-hailing, school bus and sightseeing drivers.
- Inland Revenue Board (IRB) will consider penalty appeals and defer payment of penalties to year 2022 as well as provide rescheduling of outstanding tax payments for taxpayers and affected businesses.
- Reintroduction of extension of time for submission of financial statements, conduct of annual meetings for public listed companies and moratorium on fines for late submission of statutory documents to SSM.
- Waiver of late charges penalty for business license renewal until Dec 31, 2021 for micro-SMEs, sole proprietorship and partnership.
- Extension of 10% electricity bill discounts for another 3 months from July to Sept 2021 for hotel operators, travel and tourism agencies, shopping complexes and premises, convention centers, theme parks and local airline offices.
- Extension of Special Rental Tax Deduction for 6 months to Dec 31, 2021 for premises owners who offer at least 30% rental discounts.
- The Home Ownership Campaign (HOC) stamp duty exemption has been extended until Dec 31, 2021.
- Sales Tax exemption for CKD and CBU passenger vehicles has been extended until Dec 31, 2021.