BY SARAH HAFIZAH CHANDRA & NOOR SYAHHIRA HADY
SARAWAK is projected to collect a revenue of RM11.035 billion for the year 2023 – the highest ever expected revenue thus far.
This was revealed by Finance and New Economy Minister Datuk Patinggi Tan Sri Abang Johari Tun Openg who noted that the revenue is derived from Tax Revenue, Non-Tax Revenue, Non-Revenue Receipt as well as Federal Grants and Reimbursements.
“The Tax Revenue totaling RM5.246 billion or 48 percent of the total expected revenue in 2023 comprises of RM4.195 billion from State Sales Tax of which RM3.2 billion from crude oil, liquefied natural gas and other petroleum products; RM850 million from crude palm oil and crude palm kernel oil; RM60 million from lottery, RM60 million from aluminium products, RM22 million from coal while the remaining RM3 million from tyre; RM550 million from raw water royalty, RM287 million from forest royalty, premium and tariff and RM214 million from mining royalties, land rents and others,” he said when tabling the supply (2023) bill, 2022 at Sarawak State Legislative Assembly (DUN) sitting today (Nov 21).
Abang Johari said the Non-Tax Revenue is estimated at RM5.498 billion or 50 percent, mainly derived from major sources namely RM2.335 billion from cash compensation in lieu of oil and gas rights; RM1.864 billion from dividend income; RM650 million from interest income; RM400 million from land premium; RM120 million from cash compensation in lieu of import and excise duties on petroleum products; and RM129 million from others, including licences, service fees, permits and rentals.
“As for the Non-Revenue Receipt which is expected to be RM26 million mainly from unclaimed deposits, overpayment recovered, liquidated ascertained damages and penalties, forest liquidated damages, other compounds, and disposal of vehicles.
“While the Federal Grants and Reimbursements is expected to be at RM265 million,” he said.
