By Admin | June 10, 2021
The government has introduced the latest economic stimulus package which is Pemerkasa Plus as measure for the Full Movement Control Order (FMCO) which were enforced starting from 1st June 2021 to 14th June 2021.
Pemerkasa Plus has three main objectives where are increasing public healthcare capacity, continuing welfare programmes and supporting businesses continuity. The highlights of this package are as the following:
- Allocation of Funds for Bantuan Prihatin Rakyat
There will be an additional of RM 500 allocated to households with monthly income of RM 2,500 and below, additional of RM 300 to households with monthly income between RM 2,501 to RM 5,000 and additional of RM 100 to singles who are 59 years old and below with monthly income of RM 2,500 and below as well as to singles or single parent who has no children with age of 60 years old and above with monthly salary of RM 5,000 and below. Payment will be made at the end of June 2021. The recipients of BRP 2021 do not need to make new applications again and they may check their approval status via https://bpr.hasil.gov.my. You may refer the following link for further information. https://bpr.hasil.gov.my/Download/Faq/BPR2021(FAQ)PemerkasaPlusBPRTambahan.pdf
- Extension of Wage Subsidy Programme (WSP)
The Wage Subsidy Programme (WSP) has been extended for further 1 month with RM 600 each for every employee for those existing or new employers for all sectors. For those existing employers who have applied for WSP 3.0 before, they do not have to apply again whereas for those employers who have not applied before, they may apply starting from 1st June 2021 to 31st July 2021 through prihatin.perkeso.gov.my. You may refer the following link for further information. https://www.perkeso.gov.my/images/pemerkasa/psu3/01062021_Soalan_Lazim_Program_Subsidi_Upah_PEMERKASA_FINAL.pdf
- Exemption of Payment of Levy in June 2021 and Free Learning Portal e-Latih
Employers registered with Human Resources Development Fund (HRDF) will be exempted from paying the levy for 1 month in June 2021 (June Salary). Furthermore, employees may improve themselves via HRD free learning portal, e-Latih with more than 400 skill courses.
- Additional Payments of RM 500 for Prihatin Sprecial Grant (PSG) Recipients
SMEs who were the recipients for PSG 1.0 and PSG 2.0 as well as those who applied successfully for PSG 3.0 will receive RM 1,000 in June and an additional of RM 500 in July with a total payment of RM 1,500. Those recipients do not need to make new applications again and they may check their approval status via https://gkp.hasil.gov.my. You may refer the following link for further information.
- Deferment of Payment of Tax Penalties
Inland Revenue Board (IRB) will consider the tax penalty appeals and defer the payment of tax penalties to 2022 as well as reschedule the payment of tax arrears for those affected taxpayers and businesses.
- Extension of Deadline for Submission of Financial Statements and Waiver of Late Payment of Renewal of Business Licenses of SMEs
Companies Commission of Malaysia reintroduces extension of deadline for submission of financial statements and assembling of annual general meeting (AGM) for listed companies and imposes moratorium on penalties for late submission of statutory documents. They will waive the late payment to renew the business licenses of SMEs, micro enterprises, sole proprietorships and partnerships until 31st December 2021.
- Increase Relief for SMEs in the Targeted Relief and Recovery Facility Programmes
The central bank has allocated RM 2 billion of additional funding to the Targeted Relief and Recovery Facility programmes to aid SMEs impacted by this nationwide lockdown with the financing rate of 3.5%.
- Relief for Loan Repayments for SMEs
SMEs that are not allowed to operate during the period of FMCO are given a choice to either have a 50% reduction in loan repayments for the next 6 months starting from 1st June 2021 or have an automatic approval of loan repayment for 3 months.
- Tax Relief for Rental Discounts for Business Premises
The landlords who provide a rental reduction of at least 30% to their tenants for at least 6 months until 31st December 2021 will be provided a special income tax deduction.
- Rental Discount for MARA Entrepreneurs
The entrepreneurs who are under the Majlis Amanah Rakyat (MARA) will receive a 30% discount on the rent of their business premises for 3 months from May 2021 to July 2021.
- Continuation of MARA PRIHATIN Peace of Mind Programme
MARA will continue the MARA PRIHATIN Peace of Mind programme until 31st July 2021. The borrowers can apply online for either rescheduling or having moratorium of their student loan repayments.
- Further Enhancement of Micro Credit for Micro Enterprises
MARA, Bank Simpanan Nasional (BSN), National Entrepreneur Group Economic Fund (TEKUN), the Small and Medium Enterprises Corporation and Yayasan Pembangunan Ekonomi Islam Malaysia have further allocated total of RM 1.5 billion as micro credit working capital for micro enterprises with the financing rates as low as 3%.
- Extension of Electricity Discounts for 6 Impacted Industries
These 6 impacted industries which include hotel operators, shopping malls and premises, travel agencies, convention centers, theme parks and local airlines will receive an extension of 10% discounts for electricity bills for further 3 months from July 2021 to September 2021.
- Launching of Bus and Taxi Hire Purchase Rehabilitations Scheme
Bus and taxi operators who are eligible for this scheme which is worth of RM 1 billion launched by the government may get a 12-months moratorium and extended repayment period of 36 months.
- Special One-Off Aid for Taxi Drivers, Drivers for Car Rental, Bus Drivers, E-hailing Drivers and Tour Guides
Special one-off aid with total of RM 500 each provided for the taxi drivers, drivers for car rental, bus driver, e-hailing drivers and tour guides.
- Extension for Exemption of Stamp Duty for Home Ownership Campaign
The exemption of stamp duty for Home Ownership Campaign is extended until 31st December 2021.
- Extension for Exemption of Sales Service Tax (SST) for Completely Knocked-Down (CKD) and Completely Built-Up (CBU) Passenger Vehicles
The exemption period of sales service tax (SST) for completely knocked-down (CKD) and completely built-up (CBU) passenger vehicles is extended from 30th June 2021 until 31st December 2021.
- Extension of Legal Protections Against Failure of Temporary Measures for Reducing the Impact of Coronavirus Disease 2019 Act 2020
There will be extension of legal protections against failure to meet contractual obligations from Temporary Measures for Reducing the Impact of Coronavirus Disease 2019 Act 2020 to 31st December 2021. The government will also offer free mediation via Covid Mediation centers to all individuals and businesses.
- Allocation of 3-Months Salaries of Ministers and Deputy Ministers to Disaster Trust Fund for Covid-19
The salaries of ministers and deputy ministers for June 2021 to August 2021 will be allocated to Disaster Trust Fund for Covid-19 related expenditure.
- Allocation of Funds to Increase Public Health Capacity
The government will allocate an additional of RM 1 billion to increase public health capacity to fight Covid-19 including the increase of bed capacity, ICU equipment and extension of contracts for more than 14,500 health personnel which include retired healthcare workers until 2022.
- Aiming of Completion of Vaccinations in States with High Populations by October and the Rest of Malaysia by December
The government aims to complete the Covid-19 vaccinations in states with high populations such as Selangor, Kuala Lumpur, Johor and Penang by October and the rest of Malaysia by December. Besides, the government also intends to administer 150,000 doses of Covid-19 vaccines per day through increase of vaccination centers and additional doses, administering of vaccines through drive-through centers and enlisting of more volunteers. They will deploy buses, vans and other vehicles to help older folks and others who are living far away from the vaccination centers to get their appointments but also welcome additional help from private sectors, non-governmental organizations and other community organizations.