Budget 2027: Tax breaks to encourage corporate support for food bank initiative, says Armizan

Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said the government had agreed to grant special tax deductions to parties contributing food and equipment for the i-FB initiative from January 1 next year until December 31, 2030. — Bernama pic

First Published: Sunday, 11 Oct 2026 10:00 AM MYT

KOTA KINABALU, Oct 11 — A special tax deduction incentive for the Ihsan Food Bank Initiative (i-FB) under Budget 2027 is expected to encourage greater participation by strategic partners, including the corporate sector, in strengthening the food bank ecosystem.

Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said the government had agreed to grant special tax deductions to parties contributing food and equipment for the i-FB initiative from January 1 next year until December 31, 2030.

He said his ministry appreciated Prime Minister Datuk Seri Anwar Ibrahim and the Finance Ministry for accepting its proposal to support the implementation of i-FB, one of 44 tax incentive measures announced under Budget 2027.

“This tax incentive is in line with efforts to strengthen the food bank ecosystem through integrated coordination that opens the door as widely as possible to participation by various parties,” he told a press conference before attending the Universiti Malaysia Sabah (UMS) Alumni Homecoming & Fundraising Dinner 2026, last night.

According to him, the special tax deduction introduced serves as an incentive and recognition to broaden the participation of strategic partners, including through contributions of food, equipment and operational support needed to strengthen the implementation of i-FB.

Armizan said the detailed mechanism for implementing the special tax deduction incentive for i-FB would be coordinated with the Finance Ministry.

He added that collaboration with strategic partners, including the corporate sector and voluntary organisations, would enable i-FB to drive collective efforts to ease the cost-of-living burden on those in need, rescue food from waste and protect the environment.

Meanwhile, at the dinner, i-FB grants were also presented to the UMS Student Consumer Movement, which will coordinate the initiative at their respective educational institutions and within local communities.

Armizan said the initial grants would be used to provide equipment and dedicated i-FB spaces on campuses to facilitate the receipt, storage and distribution of donated food to students in need.

“This initiative also creates opportunities for contributions from various parties to help ease the cost of living among students,” he said.

The i-FB initiative is one of the cost-of-living assistance measures implemented nationwide, with the Cost of Living Division of the Ministry of Domestic Trade and Cost of Living serving as its secretariat and aiming to secure participation from government agencies, the private sector, non-governmental organisations and individuals. — Bernama