MARC and MICPA Request Malaysian Government to Consider Extending Income Tax Deferment for SMEs

The Malaysian Rating Corporation Bhd (MARC) and the Malaysian Institute of Certified Public Accountants (MICPA) have requested the Government of Malaysia to consider allowing small and medium-sized enterprises (SMEs) to defer income tax instalment payments up to December 2020.

Earlier under the Prihatin Rakyat Economic Stimulus Package unveiled on the 27th of March 2020, the Government allowed all SMEs to postpone income tax instalment payments for a three-month period effective from the 1st of April 2020.

In a joint statement titled “Mitigating the Impact of Covid-19: Learning Points”, MARC and MICPA have highlighted that SMEs in Malaysia are severely affected as their i...