KUALA LUMPUR, Oct 13 — The government is providing a RM160 million allocation to implement various initiatives to benefit local artistes and encourage more creative works in Malaysia, said Prime Minister Datuk Seri Anwar Ibrahim.
Of the amount, RM60 million will be allocated under the Digital Content Fund to promote local works and support content based on national values.
“RM90 million will be allocated under the Film in Malaysia Incentive (Fimi) to continue to encourage the production of films with international standards and RM10 million for the MyCreative Matching Fund Scheme to support the production of creative projects.
"Local creative talents will continue to be supported to encourage the production of more creative works in Malaysia," he said when tabling Budget 2024 in the Dewan Rakyat today.
Following the Selangor state government's decision to reduce the entertainment duty rate, Anwar said the government plans to do the same for the Federal Territories from the initial 25 per cent.
It includes a complete exemption of entertainment duty for stage performances by local artistes and a reduction to five per cent for theme parks, family recreation centres, indoor playgrounds, and simulators.
“A reduction to 10 per cent of entertainment duty for stage performances by international artistes and other entertainment events like film screening, sporting, and gaming.
"I also take this opportunity to call on the state governments to consider reducing the entertainment duty, which is seen to be able to support the development of local creative talents and boost the country's tourism activities," he said.
The government also plans to impose a special income tax rate of between 0 and 10 per cent for film production companies, foreign actors, and crews shooting films in Malaysia.
"I have examined the input received during the Madani Budget Tour in Johor regarding the government's approach in encouraging the entry of foreign film productions into Malaysia and subsequently competing with other countries' incentive offers," Anwar said.
The government will also bring back the Anugerah Seni Negara, to be hosted annually to recognise and appreciate the legends and artistes.
— Bernama
