The Minister of Finance, Tengku Datuk Seri Zafrul Abdul Aziz stated that there are only 4 months left for Malaysians to enjoy tax incentives for the purchase of local cars and imported cars.
Under the presentation of Budget 2022 last year, the Ministry of Finance has extended the intensive period of car sales tax until June 30, 2022, in an effort to stimulate local economic growth and spur the development of the automobile sector.
According to him in the People's Financial Report, stating that the tax incentive saw 100% sales tax exemption for local cars assembled in the country and 50% exemption for imported cars including MPVs and SUVs.
In the meantime, he said the government had channeled a total of RM20.355 billion to 357,530 employers through the Salary Subsidy Program in an effort to maintain the employment of 2,953,820 local workers to reduce the unemployment rate in Malaysia.
As of February 11, Tengku Zafrul stated that a total of RM17.44 million has been channeled to 1,744 employers to continue operations and maintain the employment of 29,065 employees.
For the Indian Community Entrepreneurship Development Scheme, as of February 18, a total of RM21.72 million has been given to 902 micro, small and medium enterprises (SMEs).
Meanwhile, under the National Economic Recovery Plan (PENJANA), the government has allocated RM700 million to assist and encourage SMEs and mid -level companies to move to the digitization of operational and trade channels.
And as of February 11, a total of RM91.8 million had been invested in 13,891 enterprises in the form of grants and subscription loans for digitization services.
