Bonuses means increase in retail sales


  • Business
  • Saturday, 13 Sep 2003

SIMON TURNER 

Chief executive officer 

Tesco Stores (M) Sdn Bhd 

 

BONUSES for civil servants and increased tax relief for children means more disposable income, and a potential increase in retail sales. Also reduced or abolished import duty for various tariff items means that it is cheaper for us to do business – a savings we can pass to our customers. 

The increased threshold for the lower corporate tax of 20% is a boost for many SMEs, who are working very closely with Tesco. Abolishment of taxes on health supplements and deduction on entertainment expenses incurred during sales promotions will make Malaysia more competitive and attractive.  

One incentive to consider would be grants to hypermarkets to organise joint programmes with local SMEs, where they can display and sell their products in the hypermarket. They would significantly improve SMEs' chances of breaking through to the domestic as well as export market. 

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