Malaysian Sports Minister Wants Companies To Increase Sponsorship Of Local Sports Events

Malaysia Youth & Sports Minister Khairy Jamaluddin "hopes that tax breaks and incentives will be made available to the private sector soon to encourage companies to sponsor local sporting events," according to Ashreena Pillai of THE STAR. Khairy stated that the "private sector has a crucial role to play in the development of sports in the country," and added that he has "written to the National Treasury to suggest incorporating tax breaks and incentives in the upcoming 2014 Budget for companies which support and sponsor sporting events, tournaments and even academies in the country." Khairy said, "I think, if they (National Treasury) can introduce a slew of incentives as far as taxation is concerned, that may well assist in roping in more companies to support local sports events" (THE STAR, 10/1).