Zahid to propose tax deductions for sports sponsors

DEPUTY Prime Minister Datuk Seri Ahmad Zahid Hamidi will propose that sponsors of sports associations and events be eligible for tax deductions for contributing to the nation’s sports development.

Bernama quoted Zahid as saying he would make a request to the Finance Ministry to consider this proposal in the formulation of Budget 2025, which will be tabled in October.

“This is to encourage continuous sponsorships and indirectly reduce the government’s financial burden,” said Zahid, who chairs the Cabinet Committee on Sports Development.

“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 (SAM)-100 PLUS Awards ceremony held last night.

Zahid also suggested that SAM consider recognising writers and commentators who actively cover sports events through social media platforms, in its awards ceremony next year.

Also present at last night’s event was Youth and Sports Minister Hannah Yeoh, who expressed hope that local sports media professionals will persist in their positive advocacy and educational efforts to promote sports among the public. – June 7, 2024.