On 5 June 2020, the Prime Minister unveiled the Pelan Jana Semula Ekonomi Negara (PENJANA) amounting to RM35 billion, aimed at restoring the country’s economy in the short term following the Covid-19 outbreak.
The Government proposes to address the Covid-19 challenges through 6 main approaches: Resolve; Resilience; Starting Over; Restart; Recovery; Revitalise; and Reorder. PENJANA is part of the Recovery phase of the 6 main approaches.
PENJANA will focus on 3 key areas, namely, empowering the Rakyat, propelling businesses and stimulating the economy.
SALIENT POINTS
We highlight below the salient tax initiatives and non-tax initiatives of PENJANA.
Please do not hesitate to contact any of the following persons from our Tax Practice Group if you require any clarification:
Vijey M. Krishnan (Partner)
(T): 603 – 2632 9868
(E): mkvijey@rdl.com.my
William Wong (Partner)
(T): 603 – 2632 9905
(E): williamwong@rdl.com.my
Nicholas Mark Pereira (Senior Associate)
(T): 603 – 2632 9911
(E): nicholaspereira@rdl.com.my
Krystal Chiam (Associate)
(T): 603 – 2632 9999 (ext. 1201)
(E): krystalchiam@rdl.com.my
The articles published on our website do not constitute legal advice and are only intended for general information.