Budget 2024: The reduction in entertainment duty will be a catalyst for economic growth - Fahmi
Named
October 13, 2023
Menteri Komunikasi dan Digital Fahmi Fadzil (kanan) bersama Timbalannya Teo Nie Ching ketika sidang media selepas pembentangan Belanjawan 2024 Malaysia MADANI oleh Perdana Menteri Datuk Seri Anwar Ibrahim di Parlimen hari ini. - Foto BERNAMA
Budget 2024: The reduction in entertainment duty will be a catalyst for economic growth - Fahmi
Communications and Digital Minister Fahmi Fadzil (right) with his deputy Teo Nie Ching during a press conference after the presentation of the Malaysia MADANI Budget 2024 by Prime Minister Datuk Seri Anwar Ibrahim in Parliament today. - BERNAMA photo
KUALA LUMPUR: The government's announcement to lower the entertainment duty to zero for local artists and from 25 percent to 10 percent for international artists performing in the country can be a catalyst for economic growth, especially through tourism activities.
Communications and Digital Minister Fahmi Fadzil said in addition, the announcement of several funds including RM900 million under the supervision of Bank Negara Malaysia for small and medium-sized enterprises to encourage those groups to adopt applications and 5G technology.
"This is because we expect the reach of 5G to reach 80 percent by the end of this year and with a wide network, we hope that more people, not only ordinary people but also companies, especially SMEs, will be able to take full advantage," he said at a press conference in the lobby of the building. Parliament is here.
Fahmi also described the 2024 Budget announced by Prime Minister Datuk Seri Anwar Ibrahim in the Dewan Rakyat today as loaded with comprehensive initiatives that benefit every layer of the people.
In addition, he welcomed the announcement of the service tax (SST) for the telecommunications sector to be maintained at six percent.
Fahmi said this is because based on research data conducted (by the Malaysian Statistics Department), maintaining the SST rate for the sector as well as the food and beverage sector will see no increase in prices for 25 to 30 percent of the people's necessities.
"So it is a very good thing. This is part of the government's efforts to retarget subsidies," he said.
He also welcomed the announcement of giving RM2,000 to civil servants and RM1,000 to government pensioners.
"I believe that for civil servants, the contribution is very welcome and we look forward to the revision process for civil servants' salaries and we hope that private companies will also participate in the effort to increase salaries through the progressive salary scheme," he said.
-- BERNAMA
