Associations representing over 20,000 businesses say the money saved could be invested to further the growth of their companies.
Small business owners also ask that vocational training be sponsored for B40 applicants to improve the skills of the talent pool.
William Ng, chairman of the Small and Medium Enterprises Association said the association has urged the government to provide a 2% tax reduction for the first RM300,000 of taxable income. He also said Samenta was looking forward to initiatives to help SMEs increase their capacity to supply international companies, which would open the door to lucrative opportunities.
SME Association Malaysia secretary-general Chin Chee Seong said on top of tax cuts for businesses, they were also hoping for a reduction in personal income tax to increase consumer spending.
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