I APPLAUD the Finance Ministry’s move to agree in principle to the Malaysian Anti-Corruption Commission’s (MACC) application for an income tax deduction for any private company or corporation that conducts corporate social responsibility programmes on graft prevention.

These programmes enable private organisations to obtain tax deduction under section 34(6)(h) of the Income Tax Act 1967.

Based on the provision, corporate and private companies are eligible to apply for a tax deduction from their gross business income – an amount equal to the amount of expenses incurred.

The tax relief incentive is to encourage more private organisations to collaborate with the MACC to conduct anti-corruption programmes.

This is an important contribution in the effort to cultivate integrity and hatred of graft in our society.

Anti-corruption programmes will benefit the general public, including schools and higher-learning institutions. What is more interesting is that these programmes must not be business-oriented, profit-motivated or touch on political issues.

The opportunity is wide open for the private sector to contribute towards raising awareness on the impact of corruption on society and the country.

Thus, it is hoped that society will avoid the evils of corruption, which can destroy the future of a country.

The synergy among private companies, the MACC and public to eradicate graft needs to be established and continuously strengthened.

So why wait? The private sector can seize this opportunity by contacting the agency to get further information on the kinds of integrity programmes that can be conducted for the benefit of every level of society. – March 14, 2022.

* Abdul Hakim Abdullah reads The Malaysian Insight.

* This is the opinion of the writer or publication and does not necessarily represent the views of The Malaysian Insight. Article may be edited for brevity and clarity.