The government has announced 100% tax exemption for statutory incomes – referring to not just monthly salaries but also to commissions, bonuses, allowances and so on – made by tourism operators in Malaysia next year.
Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said this shall contribute towards part of the RM200 million allocated for the tourism sector in Budget 2023, mainly to further encourage tourism initiatives, promotions, and marketing.
He said there will also be an excise duty exemption for completely knocked-down vehicles, such as rental cars and tourist buses, used in the sector.
For 2023, the government is expecting over 15 million tourists who will bring in over RM47.6 billion in revenue for the country.
He stressed that the government will focus on high-value tourism, such as niche markets that include eco-tourism, golf, scuba diving, and international conventions.
The industry also obtained allocations aimed at stimulating growth, these include:
RM10 million for ThinkCity initiative in Kuala Lumpur.
RM500 million in tourism financing from Bank Negara Malaysia (BNM).
RM25 million in incentives to promote domestic tourism.
RM10 million to promote eco-tourism.
Guarantee for SMEs up to RM9 billion.
New chartered flights to and fro East Asia and the Middle East.
RM90 million in grants to promote tourism activities.
RM90mil allocation to boost tourism and tourism activities including for chartered flight services, especially from the Middle East and East Asia.
RM25mil for domestic tourism which includes discounts, vouchers and rebates of up to RM100.
