Leverage govt incentives, tourism players are urged
Published on: Tuesday, April 23, 2019
By: Iffah Dilaney
LABUAN: Tourism players here are urged to leverage the new incentives introduced by the Ministry of Tourism, Arts and Culture (Motac) to boost the local industry.
Labuan MP Datuk Rozman Isli said the four incentives introduced were in line with the Government’s effort and commitment to work with players to develop the industry.
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Among the incentives include the Tourism Fund under the Motac initiative which aims to aid entrepreneurs who want to develop tourism products such as accommodation premises, facilities and other related projects.
“The Tourism Infrastructure Development Fund (TPIP) offers loan from RM5 million to RM100 million with low and competitive interest rates managed by Bank Pembangunan Malaysia Berhad.
“While the Special Tourism Fund (TKP) is dedicated to small and medium sized players with the amount of loans offered to suit the relevant industry.
“The interest rate for this loan is at the best rate compared to other loan facilities and is managed by Small Medium Enterprise Development Bank Malaysia Berhad or SME Bank,” he said.
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Rozman spoke during a briefing with local tourism players aimed to provide comprehensive information to them covering the incentives and programmes by Motac in collaboration with related agencies, here, Sunday.
Local players are also given an income tax exemption incentive in addition to the financing and loan incentives.
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“Motac will also assist players through income tax deduction incentives through the Inland Revenue Board (IRB) for tour operators in Malaysia who operate their Travel Package based on the minimum required amount of 1500 for domestic tourists and more than 750 for foreign tourists,” he said.
Players are also eligible to apply tax exemption incentives to Motac to facilitate their efforts to recognise investors in the tourism sector through the issuance of the Tourism Project Registration Certificate (SPPP).
Additionally, the Malaysia Tourism Quality Assurance (MyTQA) is a Motac initiative to improve the quality of services of Malaysian tourism products.
“It is an acknowledgement of tourism products and aims to ensure players in the industry to prioritise the quality of services and facilities for tourists.
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