Tax Rebate For Set Up Of New Businesses

TAX REBATE FOR SET UP OF NEW BUSINESSES

According to Short-term Economic Recovery Plan (Penjana), newly established SME can get up to RM 20k tax rebate for the first three years!

FAQS

According to Short-term Economic Recovery Plan (Penjana), newly established SME can get up to RM 20k tax rebate for the first three years!

Those SME registered under Companies Act 2016 (which means Sendirian Berhad only) and start their operation within the period 1st of July 2020 until 31st of December 2021.

This rebate start from 1st of July 2020 and end on 31st of December 2021.

  • Amount of rebate is based on company operating expenses and capital expenditure and it is up to RM 20,000.
  • For example, if the company spent only RM 10,000 on operating expenses and capital expenditure, they can claim up to RM 10,000 rebate; if they spent RM 30,000 on operating expenses and capital expenditure, they can claim up to RM 20,000
  Total

Tax Rebate

Operating expenses / Capital expenditure

350,000

200,000

Operating expenses / Capital expenditure

200,000 200,000

Operating expenses / Capital expenditure

150,000

150,000

  • Amount of rebate is based on the actual amount
  • The maximum rebate will be RM200,000
  • The company must be SME (The paid-up capital has to be RM 2.5 million or below, and annual sales not more than RM 50 million)
  • The company has to use new facility, plant and equipment, all of these cannot be transferred from other company or from existing company