KUALA LUMPUR: The Youth and Sports Ministry (KBS) has reported positive developments in its discussions with the Inland Revenue Board (IRB) regarding the provision of tax cuts for sports training and guidance, apart from the purchase of sporting equipment.
Minister Hannah Yeoh (pix) said, however, the outcome of discussions was still in the process of consideration for implementation after the talks with IRB chief executive officer Datuk Seri Dr Mohd Nizom Sairi yesterday.
“In Datuk Seri Mohd Nizom’s statement through social media, IRB is committed to cooperating with the ministry to realise the national development agenda, apart from developing sports to produce a generation of calibre,” Hannah said in a statement today.
The discussions were on the granting of tax incentives under Budget 2024 to encourage parents to spend on sports and help attract the corporate sector to sponsor sports events. -Bernama