Malaysia Budget 2018 announced Visit Malaysia Year 2020 and Pulau Pangkor as Tax Free Island
Malaysia Budget 2018 is live right now with prime minister, Dato’ Sri Haji Mohammad Najib bin Tun Haji Abdul Razak announcing the new budget. One of the key highlights of the tourism sector is to promote Malaysia as one of the top travel destinations in the world.
Hence, the year 2020 will be the tourism year to visit Malaysia, Visit Malaysia Year 2020. For that initiative, the government will loan RM 20 billion for Tabung PKS. There will be also an allocation of budget of RM 1 billion for tourism infrastructure and RM 500 million for homestay and eco-tourism development.
There will be an introduction for e-Visa for tourists from around the world. Hence, there will be tax incentives for new hotels of four stars and above until end of December 2020.
There will be also initiative to promote Malaysia as top destination for medical tourism and there will be RM 30 million allocation.
Prime minister also announced that Pulau Pangkor will be tax free island (exclusive of alcohol and cars).
There will be also budget allocation for airports in Malaysia such as airports in Penang, Langkawi, Sandakan and more.
The Malaysia Budget 2018 is still on going and there will be official statements soon.