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Malaysia Announces Second COVID-19 Stimulus Package

01 April 2020

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Approved Changes

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Malaysia

The Malaysia government announced an additional MYR 250 billion stimulus package on 27 March in response to the COVID-19 pandemic. With respect to taxation, measures include that SMEs are allowed to defer monthly tax installments for 3 months effective 1 April 2020. Further, employers in all sectors are exempted from the Human Resources Development Fund levy for a period of 6 months.