Kita Prihatin Malaysia Economic Stimulus Package 2020
On 23 September 2020, the Malaysian Government announced the RM10 billion Prihatin Supplementary Initiative Package (Kita Prihatin) in line with its effort to boost economic recovery. This additional package includes the RM7 billion Bantuan Prihatin Nasional (BPN) 2.0, the Wage Subsidy Programme 2.0 worth RM2.4 billion and Prihatin Special Grant (GKP) worth RM600 million. The Kita Prihatin package targets four (4) main groups, namely:
- the bottom 40% income group (B40) who are married and single;
- the middle 40% income group (M40) who are married and single;
- local workers in various fields; and
- small and medium enterprises
To read more, click here for details.
Prihatin National Aid 2.0
Bantuan Prihatin Nasional (BPN) 2.0
- One-off assistance:
- B40 Household: RM1,000
- M40 Household: RM600
- B40 Single: RM500
- M40 Single: RM300
- No application is necessary but is based on previous BPN 1.0 eligibility.
- New applications are allowed.
- Disbursement is to be made in October 2020 and January 2021 respectively.
- RM7 billion allocation is to be made to 10.6 million eligible recipients.
| Click here for BPN registration |
Wage Subsidy Program 2.0
Program Subsidi Upah (PSU)
-
For employers that face revenue reduction of 30% or more year-on-year.
-
Three (3) months wage subsidy of RM600 for up to 200 employees per employer.
-
Newly registered employers are entitled for the wage subsidy of up to six (6) months.
-
Applications are open for companies registered with SOCSO from 1 October 2020 to 31 December 2020.
| Click here for PSU registration |
Prihatin Special Grant
Geran Khas Prihatin (GKP)
- New application requirements:
- For small and medium enterprises registered with the Companies Commission of Malaysia or any local authorities before 1 September 2020.
- Annual revenue is below RM300,000.
- Minimum of five (5) employees (excluding owner).
- One-off RM3,000 assistance.
- Application is open to eligible small and medium enterprises from 1 October 2020 to 31 October 2020.
| Click here for GKP registration |
COVID-19 Impact and Response
In these challenging times, you may need help. We provide insights and information that can help you steer your organization through this unpredictable environment.
Stay Up-to-date with Our Newsletter
The important tax updates, articles and other exciting news that you don't want to miss!