KUALA SELANGOR, Oct 20 — Caretaker finance minister Datuk Seri Tengku Zafrul Abdul Aziz said the government was planning to give a one-off grant worth RM1,000 to small and medium-sized enterprises (SMEs) registered under the Ministry of Entrepreneur Development and Cooperatives (Medac).
During the launch of the Keluarga Malaysia Entrepreneurship and Cooperatives Carnival today, he said that apart from the one-off grant, the government intends to propose a 2 per cent tax cut for the first RM100,000 earned by these SMEs.
“In addition, because we heard and we know, post-pandemic, there are still some small traders who find it difficult to recover, the government plans to give a one-off grant of RM1,000 to all registered SME companies. Approximately one million businesses will receive this benefit with a total allocation of RM1 billion under Budget 2023.
“Next, I would like to share that for Assessment Year 2023, the government has proposed that the SME tax rate on taxable income for the first RM100,000 be reduced from 17 per cent to 15 per cent. This is expected to save up to RM2,000 each for a total of 150,000 SMEs.
“To the entrepreneurs, who are in front of me, when the time comes for the implementation of Budget 2023, seize the opportunities provided by this government,” he said during his address today.
Speaking to reporters later, Tengku Zafrul said voters must return the government back to power in the coming general election (GE15) for it to be able to present Budget 2023 again, and even improve the national financial blueprint.
“If there are any better suggestions or ideas, let us know and we can definitely improve the current national Budget,” he added.
Aiming for just 4,000 attendees, Tengku Zafrul said that visitors to the carnival had exceeded expectations, after approximately 10,000 people from all around the country started arriving at around 8:30am today.
More than 100 vendors were seen dotted across the Eco Grandeur Square, showing off their various specialities, ranging from food, cosmetics, handicrafts, apparel to health supplements.
Visibly thrilled to have sold all his fresh “sengkuang calit” (savoury turnips snacks), Sengkuang Calit Pak Tam co-owner Abdul Samad Sulong could not hide his happiness and expressed his gratitude to the organisers for the carnival that boosted his sales.
“I am grateful for these kinds of events as it helps small businesses like mine taste a little bit of prestige due to the influx of attendees who stopped by my humble stall,” he said with a big grin.
Arriving at the carnival venue as early as 7am was Azry Kebab Melaka food truck manager Norazlin Sahat, who travelled all the way from Alor Gajah in Melaka.
Norazlin said he was definitely caught off-guard after finding that the crowd was far larger than he had anticipated.
“This is my third batch of chicken meat and it’s only 2pm. We have another three hours to go and I was told that the hours would be extended to 8pm.
“It is going to be a long and lucrative day for me indeed,” he chuckled, referring to the event that was extended to 8pm from the original closing time of 5pm.
Despite the sweltering weather, 48-year-old Noriza Mat Junos came to the carnival to browse the various food trucks with her two daughters.
“Actually, I came with my husband in the morning, but after picking up my daughters from school, they persuaded me to drop by again and so, here I am,” the mother of two told Malay Mail.
Noriza, who resides within the vicinity of the Eco Grandeur Square, said she wished such carnivals would take place on a weekly or monthly basis because it would definitely enliven the neighbourhood.
