KUALA LUMPUR, Feb 4 — Prime Minister Datuk Seri Anwar Ibrahim today announced a 10-year tax exemption for education-based foundations, provided they fulfil the conditions set by the Ministry of Finance.
He said the exemption would apply to foundations established for educational purposes, such as Yayasan Tunku Abdul Rahman (YTAR).
“The education foundation and its regulations are determined by the Ministry of Finance. If its purpose is for education, like the TAR Foundation, we will approve a 10-year tax exemption,” he said.
Anwar was speaking after attending the Temu Anwar programme at Tunku Abdul Rahman University of Management and Technology (TAR UMT) here.
MORE TO COME
