THE Youth and Sports Ministry (KBS) is committed to fighting for a 25% reduction in entertainment tax on ticket prices for the Malaysian Grand Prix Motorcycle World Championship (MotoGP), to be held this November.
“Besides sports events, the ministry also received many requests for exemption or reduction in entertainment tax for youth-related events,” said Youth and Sports Minister Hannah Yeoh.
Moreover, the Segambut MP added that stated that due to the exorbitant cost of organising Formula One (F1), it will be quite impossible for Malaysia to bring it back.
However, she claimed that the ministry would prioritise giving funds to Sepang International Circuit (SIC), RM20 mil for upgrading infrastructure to attract more local or international events to be held there.
Malaysia has hosted Formula One races since 1999, however the government chose to discontinue them in 2017 due to a significant decline in returns.
Meanwhile, SIC chief executive officer Azhan Shafriman Hanif promised a difference in the MotoGP at SIC, scheduled from Nov 10 to 12.
Furthermore, in another development, Azhan noted that the circuit paving work at turns 7 to 12 of the 5.54-kilometre-long circuit had reached 40%.
With the Porsche Carrera Asia Cup scheduled for April 29 and 30, he expressed confidence that the paving work could be completed by the month’s end.
The last time SIC upgraded the circuit was in 2016. — April 7, 2023
