Sales tax on petroleum products collected by Sabah exceeds RM1.5 billion
KOTA KINABALU: The government of Sabah has collected RM 1.56 billion in sales tax on petroleum products since it began imposing the five percent tax in April 2020, the legislature of the Sabah announced today. ‘State.
Deputy Finance Minister Jasni Daya said he initially plans to raise RM1.25 billion by 2021.
“Following the increase in the price of the raw material, the estimate has been revised to RM 1.4 billion,” he said in response to a question from Phoong Jin Zhe (DAP-Luyang) who asked for details on the collection of tax on sales of petroleum products.
Meanwhile, Sabah Chief Minister Datuk Hajiji Noor, responding to a further question from Phoong on why allowances for ministries were reduced despite the high amount of sales taxes collected, said the suggestions regarding the size of the allocations to be approved came from the ministries.
“If we study these proposals, the amount (requested) is actually beyond the means of the state government or the revenues we collect. However, discussions and meetings have taken place on several occasions at the level of the Ministry of Finance to assess the allocation needs according to the ministry. This has been the practice for a long time.
“We are aware of the need for an allocation as high as possible to meet the needs of the population, but we must do so with caution depending on the financial capacity of the government,” he added. – Bernama