ALOR STAR: Small business owners are urged to promptly register their businesses with the Companies Commission of Malaysia (SSM) to simplify the implementation of targeted subsidies by the government.
Domestic Trade and Cost of Living Deputy Minister Fuziah Salleh stressed that the step would enable small businesses to enjoy subsidies such as the targeted cooking oil subsidy planned next year.
She said that a substantial number of micro-industry players have not registered their businesses due to concerns about taxation.
"These business owners don't have to worry because they may not necessarily have to pay taxes if their individual income does not reach a certain amount.
"Instead, they only need to file annual reports. In reality, business registration is essential to provide benefits to them.
"Such action will facilitate our efforts to compile data on eligible households receiving these subsidised items," she said during a press conference after a 'walkabout' session at a Rahmah Sales Programme at the state Federal Government Administration Complex in Anak Bukit here today.
Fuziah said that it is estimated that there are currently about one million micro-industry players in the country, with most of them reportedly unregistered with the SSM.
She added that B40 business owners don't have to be concerned about registering their businesses as the SSM can assist the B40 group in doing so for free.
"What we need now is comprehensive data to ensure that the truly eligible groups receive these targeted subsidies. That's why these business owners need to register promptly to ensure they do not miss out on the benefits.
"So far, it is estimated that around 5.8 million eligible households will receive targeted subsidies for packaged cooking oil. Therefore, we hope that these business owners will register promptly," she added.
Earlier today, Fuziah announced that the government will introduce a subsidy programme targeting packet cooking oil in stages next year.
She said it would not only benefit the B40 group, but also the M40 group and micro-entrepreneurs.