Following the Budget 2021 announcement made on 6th November 2020, which was formulated for Malaysian with the theme "Resilient as One, Together we Triumph'' focused to ensure the following:-
(i) Rakyat's well-being;
(ii) Business continuity and;
(iii) Economic resilience.
We are pleased to update you (below) on the items highlighted in budget 2021 focusing on the impact to (a) individual and (b) employment:-
This is the list of tax relief for individual proposed in budget 2021:-
Bantuan Prihatin Rakyat (BPR)
Another thing that was highlighted during the budget 2021, is the Bantuan Prihatin Rakyat (BPR) which is more targeted. Kindly find the details as below:-
Next, moving on to the employment benefit that was highlighted where it focuses on the employer to maintain it's employees in order to reduce the unemployment rate. Kindly find the initiative available below:-
Penjana Kerjaya Incentive (Hiring Incentive)
Targeted Wage Subsidy
Disclaimer: This is prepared according to the Budget 2021 speech and we will be updating you continuously should there be any finance bill issued later.
This material or communication has been prepared for the sole purpose of providing general information to our clients, and is not intended to be relied upon as accounting, tax or other professional advice. Consent has to be obtained from the firm prior to any act of republishing or circulating to the general public. While the information is considered correct at the date of publication, changes in circumstances or updates in tax ruling after the time of publication may impact its accuracy and reliability. We have not, by means of this material or communication, rendered any professional advice or services. Thus, we shall not be responsible for any losses sustained by any person who relies on this material or communication. Please refer to our tax advisors should you require our consultancy services
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