PUTRAJAYA – The government is looking into ways to incentivise organisers of international concerts and events, according to Communications Minister Fahmi Fadzil.
He said his ministry is looking into several aspects on the matter, including methods to ensure that facilities in the nation are sufficient enough to attract international headliners.
“Previously, we had something called the Filming in Malaysia Incentive (Fimi), so we are perhaps looking at a similar structure (for concert organisers),” Fahmi told reporters, here today.
“We have to coordinate between the Communications Ministry, the Tourism, Arts and Culture Ministry as well as the Finance Ministry to see what kind of incentives the government is able to give out.
“It’s not just about rebates, it’s also about (making concert organising) processes smoother, easier and faster.”
He said this when asked about Thailand’s recent decision to offer tax waivers to organisers of major international concerts, sporting events and festivals.
Thailand’s Board of Investment announced yesterday that organisers arranging large-scale international events with investments exceeding THB100 mil (RM12.9 mil) would benefit from import duty exemptions on equipment and facilitation for the temporary entry of necessary foreign staff.
The move is seen as part of the Southeast Asian nation’s bid to intensify efforts to position itself as a tourism hotspot.
In February, the Malaysian government had exempted admission tickets for two international concerts in Malaysia from the entertainment duty.
The concerts, rock band Coldplay’s Music of the Spheres World Tour and Brit singer Ed Sheeran’s The Mathematics Asia Tour took place at the Bukit Jalil National Stadium on November 22 last year and February 24, respectively.
Coldplay’s performance saw the 85,000-seating capacity stadium packed to the brim while Sheeran’s third show in Malaysia is estimated to have been attended by 50,000 fans.
When tabling Budget 2024 in October last year, Prime Minister Datuk Seri Anwar Ibrahim announced that the government would reduce the entertainment tax from 25% to 10% for international performances.
The tax was also set to be completely exempted for local performers. – March 29, 2024