Tourism sector receive RM1.16 billion for Budget 2023


KOTA KINABALU: The Malaysian Association of Tour and Travel Agents (Matta) welcomed the RM1.16 billion allocation for the tourism industry in the National Budget 2023.

Its president Datuk Tan Kok Liang hoped the funds for tourism financing will be more accessible to obtain this time around.

“Because the take-up rate for the previous Penjana Tourism Financing was poor. Despite the RM600 million allocation for MSMES, only RM67.5 million was approved as of October 2021,” he said.

Tour operators will enjoy 100 per cent tax exemption next year to encourage new companies to improve their cash flow and expand their businesses.

But the initiative is not effective for existing tourism companies who have suffered significant losses over the last two years.

The tourism players are also given a 50 per cent excise duty exemption for purchases of CKD tourist vehicles and sightseeing buses which Matta see as helping them to reduce the purchasing capital cost.

Tan also called on the government to make customs declaration forms either available electronically or in print for travellers.-HS

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