: The Federation of Malaysian Manufacturers has proposed for the government to consider income tax waivers due to the impact caused by the Covid-19 outbreak.
“With tax exemptions, employees, as consumers, will have higher disposable income for consumption and demand for goods and services,” he said. Although Bank Negara Malaysia has been actively reaching out to small and medium enterprises to approach their banks to reschedule and/or restructure their loans or financing, an extended moratorium is still the preferred and more effective assistance, said Soh.
“There should be flexibility in the definition of company size based on sales turnover to assist all companies which have suffered significant declines, so that they fall within the ambit of the national SME definition,” he said.
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