PENJANA – Short–Term Economic Recovery Plan (ERP) has been announced by Prime Minister on 5 June 2016. The government will provide incentives in the form of tax deduction for businesses affected by the implementation of the Movement Control Order (MCO).
To encourage more people to set-up of new SMEs businesses and transactions, new SMEs which are set-up and commence operations for the period between July 1 2020 and December 31, 2020 will be eligible for income tax rebate of up to RM20,000 per year for the first three years of assessment, subject to conditions.
You may go to https://penjana.treasury.gov.my/ to find out more about the Short–Term Economic Recovery Plan (ERP).
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