The Budget 2021 matching investment fund for peer-to-peer (P2P) lending and equity crowdfunding (ECF) platforms will encourage the public to invest and help boost small and medium enterprises (SMEs), said industry players.
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said an RM50mil matching investment fund will be made available to P2Ps and MYR 30m (US$7.3m) to ECFs.
The budget also aimed to encourage investment in ECF by giving investors a 50% tax break for their investments, capped at MYR 50,000 (US$12,164).
Registered Digital Market Association (RDMA) president and Ata Plus cofounder Elain Lockman said the operators welcomed the 50% tax exemption, as they have been asking for the incentive for the last three years.
