The Small and Medium Enterprises Association of Malaysia has released its wish list for Budget 2023 to address both immediate and long-term challenges impacting the recovery and competitiveness of SMEs in Malaysia.
SAMENTA has requested for governmental intervention to shift from grants to tax rebates to encourage better financial discipline among SMEs. The wish list includes a double tax deduction for up to RM 1 million per company for capital expenditure to automate businesses, adopt digitalisation and IR4.0, and comply with ESG standards.
Other proposals include a lower tax bracket, addressing the labour crunch, reducing cost pressures, and encouraging GLCs to support SMEs. SAMENTA is committed to supporting over 1 million SMEs in Malaysia in partnership with various government Ministries and agencies.
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