COVID-19 Impact Relief Last updated on 16 Jun 2021

1: My sales have been quite bad in the past 3 months, and my company has little track record. Is my startup company qualified for financing? If yes, which ones?

BSN Micro Kredit Prihatin

Provides working capital (opex) and capital expenditure (capex).
Maximum amount RM75,000 at 2% interest rate.
Application Requirements:

Business registration with Suruhanjaya Syarikat Malaysia (SSM).
Copy of IC of Sole Proprietor / Partners / Directors.
Latest 3 months Company’s Bank Statement.
Reference:
https://www.mybsn.com.my/content.xhtml?contentId=1633

2: My cash flow is not looking so good. My employees salary is one of the costs that I need to cover during the COVID-19 period. Is there any assistance by the government for employee retention?

Salary incentive from the government:

RM600 per month for three months for workers earning below RM4,000 whose companies’ income dropped more than 50% since Jan 1, 2020.

3: My company income is affected due to Covid-19. Are there any incentives from the Government in terms of income tax?

Three-month moratorium of income tax payment starting April 1
SMEs in affected sectors are allowed to amend the tax income incurred in the 3rd, 6th and 9th monthly installment

Please contact LHDN for more info

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