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Tax Exemption Guaranteed For Employers Who Repay Employees’ PTPTN Loans

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Employers Who Help Pay Employees' PTPTN Receive Tax Exemption - WORLD OF BUZZ
Source: TheStar&RAU

According to Free Malaysia Today, the National Higher Education Fund Corporation or PTPTN received RM383,285.91 from 15 companies paying for their employees’ education loans last year. The money collected is equal to the amount needed to fund the schooling of 30 future students.

PTPTN’s Chairman Wan Saiful Wan Jan told the media that these 15 employers who paid for their employees’ education loans will receive a tax exemption.

Tax Exemption Guaranteed For Employers Who Pay For Their Employees' PTPTN - WORLD OF BUZZ

Source: MStar

Wan Saiful Wan Jan also added, “This is an incentive that employers should take advantage of this year as the tax exemption is not applicable easily. This should be good news to employers as this incentive is in force until 2021.”

This incentive was first introduced by the government during Budget 2019. Therefore, the chairman advised employers to take this opportunity to help their employees.

Wan Saiful said, “We know some students are incapable of paying for their education fund, and we encourage employers to help ease their burden as they may have some profit in their businesses to help the youths.”

 

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