KUALA LUMPUR – The Youth and Sports Ministry will announce the conditions and fee incentives for sports training that have been granted tax exemptions under Budget 2024 before March.
Its minister, Hannah Yeoh, said the ministry had met the Finance Ministry and Inland Revenue Department to study in detail the terms that will allow the public to enjoy the tax exemption after paying their training fees.
“We will announce soon to ensure the public is ready to enjoy this tax incentive so that they can invest in sports training,” she told reporters after attending the 2024 Datasonic H20 Run at Padang Merbok here today.
She said that the tax exemptions for sports training fees will apply to 103 types of sports listed in the Sports Development Act of 1997 (Act 576).
She also said that the National Sports Institute is enhancing its coaching course to ensure the public will be able to access the services of qualified coaches.
“The public must use the services of coaches who are qualified and have proper sports training certificates (if they are paying for sports training fees). We do not want any party to print their own receipts (to enjoy the tax exemption),” she said.
Last October, Prime Minister Datuk Seri Anwar Ibrahim, when tabling Budget 2024 in Parliament, said the government proposed a special tax relief for the purchase of sports equipment and activities of up to RM1,000, which would be extended to cover sports training fees. – January 27, 2024