Grants 10-Year Tax Exemption to TAR UMT, Eases Financial Concerns: Prime Minister Anwar Ibrahim

KUALA LUMPUR, Feb. 4: Prime Minister Datuk Seri Anwar Ibrahim announced a 10-year income tax exemption for Tunku Abdul Rahman University of Management and Technology (TAR UMT) on Wednesday, ending months of uncertainty over the university’s tax status.

During a visit to TAR UMT’s main campus in Setapak, the prime minister also presented a mock check for RM40 million in a government matching grant to support the institution. “The government has approved a tax exemption for 10 years for all educational bodies and foundations, including those set up for educational purposes like the TAR Foundation,” Anwar said during the ceremony.

Earlier in the day, Anwar engaged in a dialogue with undergraduates for over an hour, answering questions on education, nation-building, the economy, and Malaysia’s future aspirations.

The announcement comes after concerns that TAR UMT could face up to RM20 million in annual tax liabilities if its tax-exempt status were not extended, potentially impacting thousands of students. MCA President Datuk Seri Dr. Wee Ka Siong welcomed the decision, praising the Prime Minister for both the tax exemption and the government grant. “Today, TAR UMT would like to record our deepest appreciation to the Prime Minister for giving us two pieces of good news,” he said.

The move ensures TAR UMT can continue its operations without financial uncertainty while supporting its role in providing higher education opportunities in Malaysia.