Budget 2025: Introduce Tax Rebate Mechanism To Encourage Public To Appreciate Creative Arts

KUALA LUMPUR, Oct 15 (Bernama) -- The government has been urged to introduce a mechanism under Budget 2025 that allows Malaysians to enjoy tax rebates when spending in the creative arts industry.

MyCreative Ventures Sdn Bhd Group chief executive officer Zainariah Johari said this would encourage Malaysians to appreciate and spend in the creative industry, thus creating a demand for local art products.

"One of the things we are hoping for under Budget 2025 is something to do with the tax rebate. For example, if someone goes to watch a theatre performance at Istana Budaya or buys a piece of art (work), they can get a tax rebate for it.

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"We want to encourage the younger group, teenagers and the community at large to purchase works produced by the those in creative arts industry, like artists, authors, traditional arts practitioners and so on. This is something I have voiced out before,” he said.

He said this as a guest on Bernama TV's "Apa Khabar Malaysia” programme titled 'Menjelang Belanjawan 2025: Harapan Industri Kreatif Malaysia’ (Ahead of Budget 2025: Hopes of the Malaysian Creative Industry) today.

Zainariah said such an effort is deemed necessary to further invigorate demand for local creative arts to ensure the continuity and sustainability of the industry.

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She also proposed that attention be given to empowering the education sector to raise awareness and level of art literacy among youngsters, including the community in general, to appreciate the country's creative arts.

"Creative arts enthusiasts should also create demand so that more people like (the creative art products) because, when there is demand, there will also be supply. This way, creative arts enthusiasts will always have work, making the industry more sustainable,” she said.

In addition, she hopes the government can provide a higher allocation for the creative industry when it tables Budget 2025.

"In 2024, it was RM160 million and in 2023, it was RM127 million. So, the amount is on the rise… InsyaAllah, for this year we hope that will be the case as well,” she said.

Budget 2025, themed 'MADANI Economy, Prosperous Nation, Well-being of the People’ will be tabled by Prime Minister Datuk Seri Anwar Ibrahim, also the Finance Minister, in Parliament on Friday (Oct 18).

-- BERNAMA