E&E industry seeks SST waiver for products


Bringing in business: An SST waiver would encourage more importers to localise their manufacturing plants, says Teeam.

PETALING JAYA: An incentive to further boost locally made products and services will be the waiver of the Sales and Service Tax (SST) for electrical and electronics (E&E) products.

Ahead of the tabling of Budget 2021 on Nov 6, the Electrical and Electronics Association of Malaysia (Teeam) has urged the government to consider this request.

“This would also encourage more importers to localise their manufacturing plants and increase foreign direct investment at the same time, said Teeam.

“This would in turn contribute to the reduction of trade deficit and increase in job opportunities, ” it said in a statement.

Teeam also called on the government to waive penalties imposed on forecast versus actual profit for income tax filed with the Inland Revenue Board.

“This will further lessen the financial burden of small and medium enterprises (SME) during this challenging period, ” it said.

Teeam also called for an increase of allocation to the special relief facility and to accelerate disbursement for business sustainability and survival.

It also urged the government to consider increasing the quantum of existing hiring incentives to help more retrenched workers to secure jobs as well as reduce unemployment among fresh graduates and school leavers during the Covid-19 pandemic.

“The recent spike in the number of Covid-19 cases is back to haunt and hamper businesses.

“An extension of the conditional movement control order implemented in Selangor, Kuala Lumpur, Putrajaya and Sabah for two weeks is expected to take a toll on industries and businesses.

“We sincerely hope that the government will provide the above incentives for SMEs in the E&E industry to survive these tough times and continue providing employment to all Malaysians, ” said the association.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Budget 2021

   

Did you find this article insightful?

Yes
No

Next In Nation

Only negative Covid-19 test needed for Sabahans to travel out of state, no more 14-day quarantine
Two Thais nabbed in Perlis over fatal shooting of GOF corporal
Johor authorities investigate report of illegal logging at Lenggor Forest Reserve
Zaid Ibrahim sues Zaid Ibrahim & Co for wrongful termination
Health Ministry: Over a third of all Covid-19 clusters are linked to workplaces
Mustapa: Country needs policies to ensure Malaysians can support themselves in old age
Former Armed Forces chief opposes ban on liquor sales in KL shops
Malaysian among 16 foreigners repatriated from Singapore for terrorism
Witness: Nora Anne's body found with scratch marks, insect bites
Thailand arrests three suspects over fatal shooting of GOF personnel

Stories You'll Enjoy