Tax Incentive For Organising Conferences In Malaysia
Most of the time, a conference is a large meeting where researchers, academicians, and professionals can share their work and research in fields like medicine, law, science, engineering, technologies, business management, and so on.
Since the year of assessment 1997, Malaysian organisers of conferences whose principal activities are to promote and run conferences have been given tax incentives if they bring in at least 500 foreign participants each year [Income Tax (Exemption) (No. 53) Order 2000].
In Budget 2020, the government introduced tax incentives for qualifying persons whose principal activities are other than promoting or organising conferences. This is part of an effort to make Malaysia the best place for international conferences. These qualifying persons must bring at least 500 foreign people to conferences that they promote or organise every year [Income Tax (Exemption) (No.4) Order 2021].
Consequently, the IRB published Public Ruling (PR) No. 2/2022 titled "Tax Incentive For Organising Conferences In Malaysia" on the 29th of July 2022 to explain the tax incentive that is now available.