Kuala lumpur: Prime Minister Datuk Seri Anwar Ibrahim has approved a 10-year extension of tax exemption for Tunku Abdul Rahman University of Management and Technology (TAR UMT).

According to BERNAMA News Agency, MADANI Government spokesman Datuk Fahmi Fadzil stated that the Cabinet, at its meeting today, reviewed the issue of TAR UMT's tax exemption and expressed its appreciation of the university's role in providing quality and affordable private higher education. Fahmi, who is also the Communications Minister, emphasized that TAR UMT would remain subject to compliance reviews throughout the approval period.

"This includes conditions such as submitting audited financial statements annually, in accordance with the requirements under Subsection 44(6) of the Income Tax Act 1967," Fahmi noted in a statement released today. This decision follows the Prime Minister's announcement on February 4, during his 'Meet Anwar' programme at the TAR UMT campus, where he declared that all educational bodies and foundations, including the university, would be granted a 10-year tax exemption.