KUALA LUMPUR, July 8 — Prime Minister Datuk Seri Anwar Ibrahim has approved a 10-year extension of tax exemption for Tunku Abdul Rahman University of Management and Technology (TAR UMT).
Madani Government spokesman Datuk Fahmi Fadzil said the Cabinet, at its meeting today, reviewed the issue of TAR UMT’s tax exemption and expressed its appreciation of the university’s role in providing quality and affordable private higher education.
However, Fahmi, who is also the Communications Minister, said TAR UMT would remain subject to compliance reviews throughout the approval period.
“This includes conditions such as submitting audited financial statements annually, in accordance with the requirements under Subsection 44(6) of the Income Tax Act 1967,” he said in a statement today.
On Feb 4, the Prime Minister, during his ‘Meet Anwar’ programme at the TAR UMT campus, announced that all educational bodies and foundations, including the university, would be granted a 10-year tax exemption. — Bernama
