Bajet 2022: Esports Industry Receives RM 20 Million Alongside Tax Exemptions On Tournament Prizes

Finance Minister Tengku Zafrul Tengku Aziz today announced that the government has agreed to provide RM 20 million to the local esports industry. The multi-million dollar allocation is part of the Bajet 2022 which is worth in total of RM 332.1 billion.

Out of the RM 20 million budget, RM 5 million will be used specifically to establish an excellence centre for drone sports. This is a rather interesting decision as not only the budget allocated is quite huge but also the fact that the government has officially categorised drone sports as esports through this announcement.

Once you minus the budget for the excellence centre, this means this year’s allocation for esports development is identical to last year’s Belanjawan 2021. However, Bajet 2022 does have something extra for esports athletes out there in the form of tax exemptions on tournament prizes.

Given the general nature of the government’s budget tabling, in-depth details regarding the new RM 20 million allocation and tax exemption were not revealed by Tengku Zafrul. So, expect to hear more information about them from related agencies such as the Ministry of Youth and Sports very soon.

(Source: Bajet 2022 full speech

, Parlimen Malaysia / YouTube.)