Tax Relief

PIKOM praises the federal government’s determination to increase the tax relief of RM 2,500 for technology-related objects

KUALA LUMPUR (November 1): The National Tech Association of Malaysia (PIKOM) has welcomed the government’s decision to extend the special tax credit of RM 2,500 for purchases of phones, computers and tablets, as these tech-related items are now viewed as necessities will be for every household.

PIKOM also praised the government for announcing what is perhaps the toughest budget and the need to strike a balance between people, businesses and the economy.

In a statement on Monday, its chairman Danny Lee said the Covid-19 pandemic, and even during the national recovery period, had increased the need for tech for businesses and students.

In the meantime, PIKOM said the tech industry will continue to seek qualified talent, so the need to retrain and train Malaysians is imperative.

The tax deductions for training courses would reinforce these efforts and complement the JaminKerja job creation initiatives.

“PIKOM is currently working with the Human Resource Development Corporation and the Malaysia Digital Economy Corporation (MDEC) on job and training programs.

“Training programs such as data analytics, cybersecurity and artificial intelligence are in demand for both training courses and job vacancies,” she added.

PIKOM also praised the focus on technical and vocational education (TVET) with an allocation of RM 6 billion and recognized the emphasis on women in the household, including providing incentives for working mothers and mandating listed companies to put women in leadership positions.

“Through our Women in Tech (WIT) Chapter initiative, we hope that these efforts will continue to provide employment opportunities for the disabled, the marginalized and the unemployed,” it says.

Further highlights of the 2022 budget can be found here.

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