PM announces 10-year tax exemption for education foundations

The government has approved a 10-year tax exemption for all educational bodies and foundations.

Prime Minister Anwar Ibrahim announced this decision during a town hall session with students from Tunku Abdul Rahman University of Management and Technology (TAR UMT) in Kuala Lumpur.

"The government has approved a tax exemption for 10 years for all educational bodies and foundations.

"This is for the foundations that are set up for education purposes, like the TAR foundation," he said.

Earlier, Anwar presented the university foundation with an RM40 million cheque, which Putrajaya allocated as a grant for its operational costs.

During a press conference later, MCA president Wee Ka Siong, who is the chairperson of TARC Education Foundation's board of trustees, expressed the university's gratitude for the government's facilities.

He said the grant and tax exemption were good news for all parties involved in enhancing the country's education sector.

"I think this is really good news, and coincidentally, our (TAR UMT's) tax exemption status has just expired on Dec 31, 2025.

"With this (extension of tax exemption), it would give us room to make more plans," he said.

In December last year, Wee expressed his concern over the university's tax-exempt status as the Inland Revenue Board had yet to approve an extension.

The Star quoted the Ayer Hitam MP as saying that the delay would have serious repercussions for thousands of students.

E-invoice exemption threshold raised to RM1m - Anwar

Muar MP demands transparency on companies given tax exemptions

RM1k income tax relief for entry fees to local tourism, cultural events

Anwar unveils national budget with pay hikes and aid measures