A total RM1.6 billion will be allocated for the Tourism Industry to help its players stay afloat following the global Covid-19 pandemic, Finance Minister Tengku Datuk Seri Zafrul Aziz said.
Among others, he said this would be included in the targeted wage subsidy programme, specifically for tour operators who are experiencing a decline in revenue of at least 30 per cent.
“With an allocation of RM600 million, this initiative will benefit more than 26,000 employers and 330,000 employees,” he said in the Dewan Rakyat today.
He said another RM600 million will be allocated under the Penjana Tourism Financing and Bank Pembangunan Malaysia Bhd Rehabilitation Scheme.
“Companies that organise programmes related to arts and culture will receive matching grants with an allocation of RM50 million.
“Also, an RM60 million incentive fund is allocated for promotional activities as well as domestic tourism incentives,” he said.
To provide a further boost to the tourism industry, Tengku Zafrul said the government planned on extending several tax incentives.
He said this would include income tax exemptions to arts and cultural activity organisers as well as international sports and recreational competitions until the year assessment 2025.
“Entertainment duty exemption on entertainment activities including theme parks and cinemas in all Federal Territories and tourism tax exemption is extended until Dec 31, 2022.
“States are also advised to provide entertainment duty exemptions to support the recovery of this sector.” – NST ONLINE
