Budget 2022: Tourism gets RM1.6b injection

by HARIZAH KAMEL / graphic by TMR 
SEVERAL key initiatives with a total value of RM1.6 billion will be implemented next year to revive the tourism sector from the impact of the Covid-19 pandemic.
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said, among others, the wage Subsidy Programme (WSP) will be continued for industry players in the tourism sector which has experienced losses by at least 30%.  
With an allocation of RM600 million in Budget 2022, the initiative is expected to benefit 26,000 employers and 330,000 employees.
Special assistance is also allocated for more than 20,000 tourism businesses registered under the Tourism, Arts and Culture Ministry (Motac) for three months with a total allocation of RM85 million. In addition, the government has allocated RM60 million to spur domestic tourism activities.

Furthermore, entertainment tax exemption on entertainment activities including theme parks and cinemas in all Federal Territories as well as  tourism tax exemption will be extended until Dec 31, 2022.


Thursday, October 28, 2021

Market cautious ahead of Budget 2022