KUALA LUMPUR – The government is providing an allocation of RM160 million to implement various initiatives for the benefit of local artistes and encourage more production of creative works in Malaysia, said Prime Minister Datuk Seri Anwar Ibrahim.

The Finance Minister said of the amount, RM60 million will be allocated under the Digital Content Fund to promote local works and support content based on national values.

“A total of RM90 million is allocated under the Film in Malaysia Incentive (FIMI) to continue to encourage the production of films of international standard, and RM10 million for MyCreative Matching Fund Scheme to support the production of creative projects.

“Local creative talents will continue to be supported to encourage the production of more creative works in Malaysia,” he said when tabling the Malaysia MADANI Budget 2024 in the Dewan Rakyat today.

Following the Selangor government’s decision to reduce the entertainment duty rate, Anwar said the government also plans to do same for the Federal Territories from the initial 25 per cent.

It includes a complete exemption of entertainment duty for stage performances by local artistes and a reduction to five per cent for theme parks, family recreation centres, indoor playgrounds and simulators.

“A reduction to 10 per cent of entertainment duty for stage performances by international artistes and other entertainment events such as film screenings as well as sporting and gaming.

“I also take this opportunity to call on the state governments to consider reducing the entertainment duty which is seen to be able to support the development of local creative talents in addition to boosting the country’s tourism activities,” he said.

He said the government also plans to impose a special income tax rate of between 0 and 10 per cent for film production companies, foreign actors and crew shooting film in Malaysia.

“I have examined the input received during the MADANI Budget Tour in Johor regarding the government’s approach in encouraging the entry of foreign film productions into Malaysia and subsequently competing with other countries’ incentive offers,” he said.

Anwar said the government will also bring back the Anugerah Seni Negara to be hosted annually to recognise and appreciate the legends and artistes. – BERNAMA