KUCHING, Oct 10: The federal government must pair Budget 2027’s wage and cost-of-living measures with stronger support for micro, small and medium enterprises (MSMEs) to prevent rising operating costs from undermining business sustainability and job creation.
The Sarawak United Peoples’ Party (SUPP) Stakan chairman, who is also Sarawak Housing and Real Estate Developers’ Association (Sheda) adviser, Dato Sim Kiang Chiok said while the federal budget presented by Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim was broadly inclusive, smaller businesses needed adequate support to remain competitive and viable.
He welcomed the proposed reduction in MSME tax rates to 14 per cent on the first RM150,000 of taxable income and 16 per cent on the next RM450,000, as well as the exemption for businesses with annual sales below RM50 million from the new RM2,000 minimum wage requirement.
