The Malaysian Youth Council has appealed to the Finance Ministry to give tax deductions to those who donate to youth organisations, said Deputy Youth and Sports Minister Datuk Liow Tiong Lai.
“The council is asking for a tax deduction of 7% or more for those who donate to these organisations,” he said after witnessing the signing of the Xuan Fund Programme between MBF Cards (Malaysia) Sdn Bhd and Pertubuhan Gerakan Belia Bersatu Malaysia (GBBM) here yesterday.
He said the appeal, which was submitted to his ministry, had been forwarded to the Finance Ministry for consideration for inclusion in the 2008 Budget.
Liow said although there were allocations by the Government for these organisations, they still needed financial support from the public for their operations.
“We are happy to see private sector firms like MBF Cards coming forward to support youth movements and we hope more will do the same to attract young people to join youth organisations,” he said.
Under the Xuan Fund Programme, RM40 will be pledged to GBBM for each approved card application along with two years’ annual fee waiver.
The applicants will be those introduced by GBBM to MBF Cards.
MBF Cards will also contribute RM20 from the third year onwards for every annual fee payment, with an additional contribution of 0.1% on Card members’ total spending.
- The Star –