PUTRAJAYA: The Medical Device Authority (MDA) has announced a tax deduction incentive under subsection 44(11C) of the Income Tax Act 1967 for sponsors providing cash contributions to support the 28th Global Harmonisation Working Party (GHWP) Annual Meeting and the International Medical Device Exhibition and Conference 2024 (IMDEC 2024).

According to BERNAMA News Agency, this incentive, approved by the Ministry of Finance Malaysia (MOF), allows for an income tax deduction of 10 per cent of aggregate income for tax computation purposes, applicable from September 1, 2024, to December 12, 2024. The total eligible contributions for the tax deduction are capped at RM800,000, as mentioned in the statement released today.

As a gesture of appreciation, MDA expressed hope that this initiative would encourage public participation in ensuring the success of the 28th GHWP Annual Meeting and IMDEC 2024, which is recognised as a project of national significance. The event is scheduled to take place from December 9 to Dece
mber 12, 2024.

MDA also advised taxpayers making sponsorship contributions to maintain proper records and retain receipts or relevant documents as proof for tax claims and audits by the Inland Revenue Board (LHDN). To prevent fraud, the public is encouraged to contact MDA before making contributions. For enquiries, the secretariat of the 28th GHWP Annual Meeting and IMDEC 2024 can be contacted at 014-3137337 or via email at [email protected] or [email protected].