KUALA LUMPUR: 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 suggested this initiative to encourage Malaysians to appreciate and invest in the creative industry, thereby stimulating 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 artwork, they can get a tax rebate for it," he said.
Zainariah explained that this could motivate young people and the broader community to purchase works produced by artists, authors, and traditional arts practitioners. This proposal had been previously voiced, he added.
Speaking 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)", Zainariah emphasised the necessity of such efforts to further invigorate demand for local creative arts and ensure the sustainability of the industry.
She also highlighted the importance of empowering the education sector to raise art literacy and awareness among youngsters and the general community to appreciate the country's creative arts.
"Creative arts enthusiasts should also create demand so that more people are drawn to creative art products. When there is demand, there will also be supply, ensuring that creative arts enthusiasts continue to have work, making the industry more sustainable," she said.
In addition, Zainariah hopes the government will allocate more funds to the creative industry when tabling Budget 2025.
"In 2024, it was RM160mil, and in 2023, it was RM127mil. So, the amount is on the rise... InsyaAllah, for this year we hope that will be the case as well," she stated.
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
