The Malaysian Investment Development Authority (MIDA) is committed to support businesses and stakeholders while prioritising public health and safety. Companies enquiring on applications status; may contact respective divisions’ directors or deputies.
Following the latest announcement of the Full MCO (FMCO) beginning 1 June 2021, MIDA HQ will remain open virtually and offers services and facilitation through various virtual channels. We encourage you to leverage on the available technology tools for communication such as emails or virtual meetings/ consultations.
Watch Brian McFeeters, U.S. Ambassador to Malaysia as he delivers a brief address in Bahasa Malaysia announcing additional support for frontliners in Malaysia dealing with the COVID-19 pandemic. Supplies of PPE, Sanitizers and other equipment were donated earlier this year.
Now, the U.S. will be working with COVID-19 Vaccine Global Access (COVAX) to donate an additional 80 million vaccine doses globally, 7 million to a number of Asian countries including Malaysia.
In his special address today, 15 June, Prime Minister Tan Sri Muhyiddin Yassin spoke about the National Recovery Plan, an exit strategy from the COVID-19 pandemic crisis.
The National Recovery Plan strategy consists of four phases and will involve planned phase transitions of the MCO in stages. Each phase of this recovery plan is based on data based on three main indicators or thresholds to move from one phase to the next.
The indicators being:
- The state of COVID-19 daily infection cases
- Capacity of the public healthcare system
- Level of the population inoculated based on the percentage that has fully received two vaccine doses
Each phase will see more restrictions towards economic activities and the social sector ease up as each of these thresholds reach a more satisfactory level, with the fourth and final phase expected to be imposed only towards the year end.
Read Full Speech:
AMCHAM held its 44th Annual General Meeting on June 15, 2021, a first for AMCHAM to be conducting our AGM virtually. AMCHAM is pleased to report the addition of three new members to the Board of Governors, five returning board members, and three board members who will serve the remaining time of their two-year term.
We would like to thank our members for making time to attend and ensure a quorum was reached to proceed with the meeting. The AGM ran smoothly with no urgent matters arising and successful adoption of the Governor’s slate.
Click here to view the changes to AMCHAM’s Board of Governors.
EY has released its latest tax alert issue No. 12/2021. This issue covers:
Malaysian developments
- Income tax exemption on medical tourism
- Inland Revenue Board (IRB)’s concessions during the Movement Control Order (MCO) 3.0 period
- Frequently Asked Questions on the Deferment of Payment of Estimated Tax Payable (CP204) and Instalment Scheme (CP500) from 1 April 2021 to 31 December 2021
- Multilateral Instrument impact to tax treaty between Malaysia and Singapore
Overseas developments
- Taiwan proposes amendments to domestic regulations governing application of tax treaties
- Portugal clarifies VAT rules related to non-resident taxable persons
Citi Malaysia will continue to offer customers impacted by the COVID-19 pandemic the option to choose the Repayment Assistance that best suits their financial needs.
The Repayment Assistance in line with the Targeted Repayment Assistance announced recently by the Association of Banks in Malaysia offers a loan deferment (moratorium) for a period of 3 months or 50% reduction in the monthly instalment payment for a period of 6 months.
Individual customers who have lost their employment, B40 borrowers who are registered under the Bantuan Sara Hidup (BSH) and Bantuan Prihatin Rakyat (BPR), microenterprises with loan facilities of not more than RM150,000 and SME customers not on the list of permitted sectors allowed to operate can opt for this specific repayment assistance.
