EXTENDING the re-investment allowance period, setting up a special fund for automation, lowering corporate tax and reducing the retirement age are some of the pertinent proposals which industry observers feel should be incorporated into the upcoming budget for the small and medium enterprises (SME) sector to be one of the country's leading economic growth drivers.
SMI (small and medium industry) Association of Malaysia national president Chua Tiam Wee says the reinvestment allowance period should be extended. He says many SME retailers who intend to renovate or refurbish their outlets have not been able to do so as they are not allowed to use the re-investment allowance. Hence, the association hopes the Government will be more flexible and allow the extension as it will further spur investments by SMEs.
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