A new tax incentive in Malaysia offers a 50% deduction to companies providing up to one year of paid leave for employees caring for sick loved ones. The benefit is intended to boost employee loyalty and well-being but has raised concerns among SMEs about financial implications and operational challenges.
A new tax incentive in Malaysia offers a 50% deduction to companies providing paid leave of up to one year for employees caring for sick loved ones. This benefit, available until December 31, 2027, aims to boost employee well-being and loyalty. However, it has sparked debate among employers.
While some see it as a positive step towards creating a supportive work culture, others, particularly Micro, Small and Medium Enterprises (MSMEs), express concerns about the potential financial burden and operational disruptions prolonged leave could cause. They worry about increased labor costs and the administrative challenges of managing such programs. The tax incentive allows companies to deduct up to 50% of the costs associated with paid caregiving leave, on top of standard deductions, leading to significant tax savings
TAX INCENTIVE CARE GIVING LEAVE EMPLOYEES EMPLOYERS Msmes
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