Prime Minister Datuk Seri Anwar Ibrahim has approved a 10-year extension of tax exemption for Tunku Abdul Rahman University of Management and Technology (TAR UMT), recognising the institution’s role in providing quality and affordable private higher education.
Government spokesman Datuk Fahmi Fadzil said the Cabinet reviewed TAR UMT’s tax exemption during its meeting and expressed appreciation for the university’s contribution to expanding access to higher education.
Fahmi, who is also Communications Minister, said the approval would remain subject to compliance reviews throughout the exemption period.
“This includes conditions such as submitting audited financial statements annually, in accordance with the requirements under Subsection 44(6) of the Income Tax Act 1967,” he said.
The 10-year tax exemption extension follows Anwar’s announcement during his programme at the campus on Feb 4, where he said all educational bodies and foundations, including TAR UMT, would be granted the exemption.
The government said the move reflects its recognition of the role played by educational institutions and foundations in supporting the country’s higher education ecosystem.
