KUALA LUMPUR, Feb 27 — Tourism-related businesses can delay remitting their monthly income tax to the government and will get a discount on their monthly electricity bills from April to September, the federal government said today.
Interim prime minister Tun Dr Mahathir Mohamad announced these incentives to help ease the cash flow of businesses most affected negatively by the Covid-19 virus outbreak.
“First: To allow deferment of monthly income tax instalment payments for businesses in the tourism sector. In addition, companies affected by the COVID-19 to be allowed to revise their profit estimates for 2020 with respect to monthly income tax instalment payments without penalty.
“Second: To provide 15 per cent discount in monthly electricity bills to hotels, travel agencies, airlines, shopping malls, conventions and exhibitions centres,” he said.
He also said hotels will be exempted from the six per cent service tax from March to August 2020.
MORE TO COME