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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

TaXavvy is a newsletter issued by PricewaterhouseCoopers Taxation Services Sdn Bhd. While every care has been taken in compiling this newsletter, we make no representations or warranty (expressed or implied) about the accuracy, suitability, reliability or completeness of the information for any purpose. PricewaterhouseCoopers Taxation Services Sdn Bhd, its employees and agents accept no liability, and disclaim all responsibility, for the consequences of anyone acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. Recipients should not act upon it without seeking specific professional advice tailored to your circumstances, requirements or needs.

 

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