Micro businesses may register online with the Inland Revenue Board (LHDN) for the Prihatin Special Grant until May 15, 2020.
Deputy Finance Minister 1, Datuk Abdul Rahim Bakri said 700,000 micro businesses are expected to receive the RM3,000 one-off financial assistance for each registered and licensed business entity.
“The grant is aimed at easing the burden of micro enterprises hit hard by the Movement Control Order (MCO) to contain the spread of the COVID-19 pandemic that has affected the country and the world.”
The special grant is open for micro businesses with annual sales or turnover of less than RM300,000
“Their business must also be still active and they should have at least five workers not including the owner,” he said.
He added that the government has allocated RM 2.1 billion for the Prihatin Special Grant – sufficient to kickstart the micro businesses that are the bedrock of country’s economy.
Applications can be made online
Among the qualifications are, applicants must be Malaysian citizens and running a micro SME with total annual sales or turnover of less than RM 300,000, with the number of employees less than five, excluding the owners.
The micro SMEs must be registered with the IRB, local authorities or the Companies Commission of Malaysia before or on December 31, 2019 and continue to be in business when the application is made.
Applications can be made online through the PSG portal at https://gkp.hasil.gov.my. Applicants can check the result of their applications starting in the first week of June 2020 and payments are expected to be made in June.
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