Zahid proposes tax deductions to sports sponsors

KUALA LUMPUR – Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi has proposed that sponsors and event organizers of sporting events and associations be entitled to tax deductions in recognition of their contribution to the nation’s sport development.

Ahmad Zahid, also the chair of the Cabinet Committee on Sports Development stated that he will request the Finance Ministry consider this proposal when formulating the Budget 2025, which is due to be presented in October.

He said that the goal was to reduce government financial burdens by encouraging sponsors to continue sponsoring.

“Malaysia as a ‘sporting nation’ must cultivate strong partnership to achieve the goal of the government of positioning the country in the forefront of sport.

He said this during the 2023 Sportswriters Association of Malaysia 100 PLUS Awards Ceremony held on Thursday, June 6, night.

Ahmad Zahid suggested that SAM also consider recognising writers who actively cover sporting events on social media platforms in its award ceremony next year.

He said that many people now commentate professionally and effortlessly on sporting events featuring national athletes.

He said that he was impressed by the commentary he heard during the Sepak Takraw World Championship held in Kuala Lumpur.

Hannah Yeoh (Minister of Youth and Sports), who was present, expressed hope that the local sports media professionals would continue to be positive in their advocacy and educational efforts, and promote sport amongst the public.

She also encouraged sports journalists to create content that will motivate national athletes to compete enthusiastically at the 2024 Paris Olympics scheduled for July 26-August 11.

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