Corporate Tax Executive Director, Lim Wai Yin shared her perspectives on how the survival of SMEs is critical to the overall growth of the Malaysian economy and areas the government can support the SMEs further.
She hoped to see a reduction in income tax rates for SMEs, either by way of a direct rate cut or a tax rebate. Although there was a rebate of up to RM20,000 for SMEs in Penjana, this was only limited to newly established SMEs.
It will certainly be more helpful if the reduction in tax rate can be extended to all SMEs as existing businesses, even those that have been in business for a long time, are experiencing significant disruptions.
© 2021 KPMG PLT, a limited liability partnership established under Malaysian law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.