TaXavvy Issue 15/2020

In this issue:

Second Economic Stimulus Package 2020 (Prihatin Rakyat)

In addition to the tax measures announced under the 1st ESP on 27 February 2020 (see TaXavvy Issue 7-2020), the following measures were announced this afternoon by the Prime Minister under the 2nd ESP, the Prihatin Rakyat Economic Stimulus Package:

Deferment of tax instalment payments for SMEs
Deferment of taxability of profit or interest income of banks from loans under moratorium
Restructuring of Employees Provident Fund (EPF) contribution by employer
Exemption of Human Resource Development Fund (HRDF) levy
Withdrawal from Private Retirement Scheme (PRS)
Wage subsidy programme

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