Rental Waivers or Reductions To reduce overhead costs, a 6-month waiver on rental payments has been granted on all premises owned by the Federal Government or their agencies. Similar waivers or discounts are granted to SMEs in the retail sector if they operate in premises owned by a government-linked company. Government-Linked Companies (GLCs) such as…

Wage Subsidy Program The Wage Subsidy Program was introduced by the government under the second stimulus package to prevent large-scale retrenchment by funding a portion of the employees’ wages and to ensure that businesses remain sustainable. Available to all businesses regardless of nature or size, the government will contribute between RM600 and RM1,200 per month…

The Inland Revenue Board of Malaysia has extended the submission deadline for a company’s income tax return form for the year of assessment (YA) 2019 whilst taxes which are due during the Movement Control Order period may be paid by or before 31 May 2020, without incurring any late payment penalties. Revisions to the estimates…

One-off special grant It is proposed that micro-SMEs would be entitled to a special grant amounting to RM3,000. In order to enjoy the above special grant, the micro-SME must be registered with the Inland Revenue Board of Malaysia and a list of eligible micro-SMEs would be obtained from the Local Authorities and Companies Commission of…

The first economic stimulus package sought to alleviate the pandemic’s immediate impact upon the tourism industry. Incentives for the tourism industry include: Double tax deduction on expenditure incurred on training courses for employees 6-month deferral on the payment of monthly income tax instalments 6-month exemption of the hospitality industry from Human Resource Development Fund levies…

To date, three (3) economic stimulus packages totalling RM280 billion (USD63 billion) have been announced by the Malaysian government to mitigate the economic risks arising from the COVID-19 pandemic. This demonstrates the commitment of the government in prioritising the well-being of the Malaysian citizens while also ensuring the survival of businesses impacted by COVID-19. The…

As the number of COVID-19 cases has been on the rise in Hong Kong, so have parents’ concern for their children. Recently, we have been asked by several folks: what would happen to my child if s/he is tested positive for COVID-19? This concern is enhanced by the fact that, if a family member is…

In the wake of COVID-19 comes a shower of government-led incentives to accelerate digital transformation in the business world, including the highly anticipated Distance Business Programme with funding worth HK$500 million. While the epidemic as a driving force is a most unfortunate and costly one, it does urge decision makers, especially of small- and medium-sized…

A Hong Kong, les familles se sont retrouvées à cohabiter à longueur de journées, des semaines durant, du fait du travail à domicile imposé et de la fermeture des établissements scolaires. Dans ces conditions, et du fait notamment de la petite surface des logements à Hong Kong, les tensions familiales sont exacerbées. Un certain nombre…

As people have been working from home for weeks now and with children being home-schooled, things can get tense in the family home, especially in the small spaces we share in Hong Kong. A number of articles in SCMP, BBC, and CNN have featured articles indicating that there is an uptick in the number of…

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