PEMERKASA+ Aid Package Highlights

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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: -

  1. 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
  2. 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
  3. 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.
  4. Wage Subsidy Programme under PERKESO extended for 1 months for all affected economic sectors, with a limit of 500 employees per application.
  5. HRDF levy payment exemption for 1 month in June 2021.
  6. 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.
  7. 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.
  8. One-off aid of RM500 to tourist guides, taxi, rental, e-hailing, school bus and sightseeing drivers.
  9. 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.
  10. 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.
  11. Waiver of late charges penalty for business license renewal until Dec 31, 2021 for micro-SMEs, sole proprietorship and partnership.
  12. 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.
  13. Extension of Special Rental Tax Deduction for 6 months to Dec 31, 2021 for premises owners who offer at least 30% rental discounts.
  14. The Home Ownership Campaign (HOC) stamp duty exemption has been extended until Dec 31, 2021.
  15. Sales Tax exemption for CKD and CBU passenger vehicles has been extended until Dec 31, 2021.

Key contact

Lee Wee Tak

Head of Outsourcing

E: [email protected]

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Key contact

Lee Wee Tak is the Head of Outsourcing Division with more than 20 years of experience in accounting field.

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