Prime Minister Tan Sri Muhyiddin Yassin has now unveiled a host of new measures from the government’s Short-Term Economic Recovery Plan to help Malaysia recover from the Covid-19 pandemic. The announcement was made via a live broadcast 3pm today, with a whole host of incentives coming in place. Of course, being PC.com, we’ve picked some of the more relevant incentives that you should look out for from the new economic recovery plan.
- To encourage use of contactless payment systems, the government has allocated RM750 million to e-Wallets. This will translate to RM50 worth of e-Wallet credits to approximately 15 million Malaysians. Applications for the credits being July 2020.
- To encourage mobility and reduce the burden of costs of transportation, the Government will introduce an unlimited monthly travel pass costing RM30 for use on all rail services (MRT, LRT, Monorail), BRT, RapidKL buses and MRT feeder buses. This will be open to all nationalities starting from June 15 until the end of 2020.
- The Government will collaborate with e-commerce platforms to co-fund digital discount vouchers to encourage online spending on products from local retailers. The Government is allocating RM70 million which is said to be matched by e-commerce platforms.
- To enable the transition to the new normal of remote learning and work, support will be provided to increase internet connectivity through the following:
▸ Free 1Gb per day between 8am to 6pm for education, productivity (video conference applications) and news by participating telecommunication companies.
▸ Free unlimited use of Government’s COVID-19 applications and access to Ministry of Health and other Government websites.
- Tax exemption for purchase of passenger cars:
▸ Full sales tax exemption on locally assembled cars.
▸ 50% sales tax exemption on imported cars.
For a comprehensive guide of all incentives for companies, SMEs, and more, check out the PDF linked here: ECONOMY PLAN.