OCM requests zero-rated GST for sports sponsorships

OCM requests zero-rated GST for sports sponsorships
Tunku Imran (centre) pose with OCM leadership during its 26th AGM at Wisma OCM today. Also present Mohamad Norza and Low. --fotoBERNAMA
KUALA LUMPUR: The Olympic Council of Malaysia (OCM) has requested the government to consider zero-rated Goods and Services Tax (GST) for all sponsorship and donations given to national sports associations.

OCM President Tunku Tan Sri Imran Tuanku Ja'afar said the request was a resolution passed unanimously at the 36th annual general meeting of OCM today.

"This matter is important for the development of sports in the country. We will forward this to the Ministry of Youth and Sports, so they will put it up to the Ministry of Finance.
"Essentially, what they (sports associations) want is for the sponsorship and grants they get to be free of GST. Right now, they have to pay six percent GST on everything they raised and it is not easy to get sponsorship.

"This is one way the government can show support for the national sport associations," he told reporters after chairing the meeting at Wisma OCM here today.

At the meeting, the OCM also agreed to give annual grants to its affiliates, in which ordinary members would receive RM10,000, while RM6,000 would be given to associate members involved in SEA Games and RM3,000 for associate members not involved in SEA Games.

According to OCM secretary-general Datuk Low Beng Choo, all services and spending related to sports and sporting events are inclusive of six percent GST.

-- BERNAMA