Zahid proposes tax deductions for sports sponsors

 

Deputy prime minister Ahmad Zahid Hamidi said he will ask the finance ministry to consider this proposal when drafting the 2025 budget. (Bernama pic)

KUALA LUMPUR: Deputy prime minister Ahmad Zahid Hamidi has proposed that sponsors of sports associations and events be eligible for tax deductions for their contributions to the nation’s sports development.

Zahid, who also chairs the Cabinet’s sports development committee, said he will ask the finance ministry to consider this proposal when drafting the 2025 budget, which will be tabled in October.

“This is to encourage continuous sponsorships and indirectly reduce the government’s financial burden.

“Malaysia, as a sporting nation, must cultivate strong partnerships to achieve the government’s goal of positioning the country at the forefront of sports.

“The excellence of our national sports is a shared responsibility, ” he said during the 2023 Sportswriters Association of Malaysia-100 Plus Awards ceremony here tonight. It was also attended by youth and sports minister Hannah Yeoh

Yeoh expressed her hope that local sports media practitioners will persist in their advocacy and educational efforts to promote sports among the public.

She also encouraged them to produce content that would motivate national athletes to compete with enthusiasm at the 2024 Paris Olympics, scheduled for July 26 to Aug 11. - FMT