LOWERING the entertainment tax to zero for local performers and from 25% to 10% for international artistes would catalyse economic growth, especially via tourism activities, Communications and Digital Minister Fahmi Fadzil said.

He said the announcement of several allocations, including RM900 million under the supervision of Bank Negara Malaysia for small and medium enterprises (SMEs), would encourage those groups to adopt 5G applications and technology.

“This is because we expect 5G reach to be at 80% coverage by the end of the year, and with a wide network, we hope not just the people, but also companies, especially SMEs, will be able to take full advantage,” he said at a press conference at parliament today.

He described Budget 2024 as loaded with comprehensive initiatives that benefit all segments of society.

He also welcomed the announcement that the sales and services tax (SST) for the telecommunications sector will be maintained at 6%.

He said based on research, maintaining the SST rate for the sector would not cause price hikes for 25% to 30% of basic necessities.

“This is a very good thing. This is part of the government’s efforts to retarget subsidies,” he said. – Bernama, October 13, 2023.