Belanjawan 2027: Kadar cukai pendapatan PMKS turun satu mata

Perdana Menteri Anwar Ibrahim announced a reduction of one percentage point in the tax rate for micro, small and medium enterprises (PMKS) to alleviate the burden of rising operational costs. The first RM150,000 of taxable income for these businesses will have its tax rate reduced to 14%, while income between RM150,000 and RM600,000 will see a decrease to 16%.

This means additional income up to RM6,000 for around 300,000 PMKS will be taxed at these reduced rates, according to Anwar during the announcement of the 2027 Federal Budget. The government also proposed increasing the value of each small asset eligible for a modal injection to RM3,000. For non-PMKS companies, the total debt limit will be raised to RM30,000.

SMEs can also claim refunds for sales of machinery, spare parts and tools purchased from local traders or distributors, including raw materials for pharmaceutical, livestock, steel and poison products. The government aims to continue the Accelerated Modal Grant scheme for local hardware and small equipment, as well as ICT equipment and communications technology until December 31, 2030, to boost local business productivity.

The government also plans to offer extended credit facilities to medium-sized businesses through simplified credit refinancing starting January 1, 2027, to December 31, 2030, with a flat processing fee of only RM10. A RM10 flat processing fee for P2P loan agreements will also apply from January 1, 2027, to December 31, 2030, and the full exemption of processing fees for opening savings and current accounts starting January 1, 2027.

Anwar announced the provision of Madani Trust for equipment and training to 40,000 beneficiaries, with a budget of RM200 million. The Microfinance will be increased to RM6.6 billion in 2027. Anwar also announced an additional RM3 billion from the Malaysia Amanah Ikhtiar Trust to support 360,000 entrepreneurs in the coming year. The National Saving Fund will also increase to RM1.3 billion to support the development of Bumiputera-owned businesses.

Under the National Savings Bank, microfinance of RM1.7 billion will be provided, with a special allocation for youths, gig workers, traders and vulnerable groups.