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PUBLISHED: Jun 17, 2017 7:04pm

OCM seeks GST waiver for sports sponsorships

GST-M

Source: Bernama Source:
Bernama

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KUALA LUMPUR, 17 June 2017: 

The Olympic Council of Malaysia (OCM) has requested the government to consider zero-rated Goods and Services Tax (GST) for all sponsorship and donations given to national sports associations.

OCM president Tunku Tan Sri Imran Tuanku Ja’afar said the request was a resolution passed unanimously at the 36th annual general meeting of OCM today.

“This matter is important for the development of sports in the country. We will forward this to the Ministry of Youth and Sports, so they will put it up to the Ministry of Finance.

“Essentially, what they (sports associations) want is for the sponsorship and grants they get to be free of GST. Right now, they have to pay 6% GST on everything they raised and it is not easy to get sponsorship.

“This is one way the government can show support for the national sport associations,” he said after chairing the meeting at Wisma OCM here today.

At the meeting, the OCM also agreed to give annual grants to its affiliates, in which ordinary members would receive RM10,000, while RM6,000 would be given to associate members involved in SEA Games and RM3,000 for associate members not involved in SEA Games.

Secretary-general Datuk Low Beng Choo said all services and spending related to sports and sporting events are now inclusive of 6% GST.

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