On 5 June 2020, the Malaysian Government unveiled the Short-Term Economic Recovery Plan (STERP) valued at RM35 billion. This STERP is in addition to the three (3) Economic Stimulus Packages totaling RM260 billion announced earlier.
The STERP has 40 initiatives focusing on the following three (3) key thrusts:
Malaysia is now at the Recovery phase of the COVID-19 pandemic with most economic sectors reopened albeit in a controlled manner.
It is timely that the Government introduced this STERP to assist the country’s economy to recover. It is hoped that all the proposals and allocations in the STERP will be implemented soonest possible to help all parties to get back to the “new normal” life.
To read more, click here for details.
Malaysia First Economic Stimulus Package 2020
Malaysia Second Economic Stimulus Package 2020
Malaysia Additional Prihatin SME Economic Stimulus Package 2020
COVID-19: Crowe Tax Planning Handbook For Businesses
COVID-19 Impact and Response