Short-term Economic Recovery Plan (Penjana)
New established SMEs that commence business operations before 31 December 2022, can now get tax rebate of RM20,000 for the first three years!
T&C applicable:
T&C applicable:
- Registered under the Companies Act 2016;
- Paid-up capital of RM2.5 million and below, with annual turnover not exceeding RM50 million per annum;
- The amount of rebate eligible to be claimed by the SME is equivalent to the amount of capital expenditure or operating expenses incurred in each YA subject to a maximum expenditure of RM20,000 per YA;
- Unused tax rebate during the current YA cannot be carried forward to the next YA for tax deduction purposes;
- The new entity must buy new facility, plant and equipment, employ new staff. Entity that transfer or share the same plant, equipment and facilities, employees from existing or related companies are not eligible; and
- Not eligible for company or partnerships that changes into LLP or vice versa.
Nov 09,2022