BUDGET 2024: KBS REQUESTING TAX RELIEF FOR SPORTS TRAINING FEES – HANNAH

The Ministry of Youth and Sports (KBS) is working to include sports training fees in the list of lifestyle tax relief through Budget 2024, says its minister, Hannah Yeoh.

She said the ministry was in the midst of requesting the exemption from the Ministry of Finance (MOF).

Hannah said that based on the amendment to the Sports Development Act 1997, so far only the purchase of sports equipment would be tax exempted effective next year, which would benefit all 103 types of sports.

“The engagement session with the MOF is still ongoing and this year, we are focusing on applying for tax relief for parents or individuals who spend on sports training. The objective is to promote a healthy lifestyle among Malaysians.

“Children are encouraged to participate in sports training from a young age. This will also help our athletes have jobs if many people use sports training services. We want the sports industry to develop this way,” she told reporters after officiating the 2023 Sabah Sports Industry Expo ( EISS) here today.

The ceremony was attended by Sabah Youth and Sports Minister Datuk Ellron Alfred Angin who also witnessed the signing of three memorandums of understanding for sports equipment and facilities.

EISS is the first programme held in Sabah aimed at providing exposure to the roles and contributions of various segments within the sports industry, including sports tourism, sports facilities, sports retail, sports medicine, sports event management and sports education.

The two-day programme organised by KBS through the Sports Industry Secretariat which began today involves 40 sports industry players from the Peninsula and Sabah.

Earlier, Hannah in her speech said that Sabah was famous for its interesting sports destinations such as scuba diving, mountain climbing, golf and other natural activities.

Hannah said her ministry had approved RM774,000 in matching grants to sports companies and organisations in Sabah to boost to the sports industry’s growth in the state.

“I will ensure continued cooperation between KBS and KBS Sabah on various issues related to youth and sports development,” she said.

Source: BERNAMA News Agency