Accra:A special tax deduction incentive under Budget 2027 is set to boost participation from strategic partners, including the corporate sector, in enhancing the food bank ecosystem through the Ihsan Food Bank Initiative (i-FB).

According to BERNAMA News Agency, Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali announced that the government will offer special tax deductions to those contributing food and equipment to the i-FB initiative starting January 1 next year and continuing until December 31, 2030.

Minister Armizan expressed gratitude to Prime Minister Datuk Seri Anwar Ibrahim and the Finance Ministry for supporting this proposal, which is one of 44 tax incentive measures unveiled in Budget 2027. He emphasized that the tax incentive aligns with efforts to strengthen the food bank ecosystem by encouraging broad participation from various entities.

He further explained that the tax deduction serves as both an incentive and recognition for strategic partners to contribute food, equipment, and operational support, thus enhancing the implementation of i-FB. Coordination of the tax deduction mechanism will be conducted with the Finance Ministry.

Collaboration with strategic partners, including the corporate sector and voluntary organizations, is expected to drive collective efforts to reduce the cost-of-living burden on those in need, prevent food waste, and protect the environment.

During a Universiti Malaysia Sabah (UMS) event, i-FB grants were awarded to the UMS Student Consumer Movement to facilitate the initiative within educational institutions and local communities. These initial grants will equip campuses with dedicated i-FB spaces for food donation activities, aiding students in need.

The i-FB initiative is part of broader cost-of-living assistance measures across the nation, overseen by the Ministry of Domestic Trade and Cost of Living, which seeks engagement from government agencies, the private sector, non-governmental organizations, and individuals.