7 days ago
- Business
- New Straits Times
Sarawak collects RM4.3bil in first four months, eyes full-year target of RM14.2bil
KUCHING: Sarawak collected RM4.3 billion in revenue in the first four months of the year, or 30 per cent of its projected annual revenue of RM14.2 billion, Deputy Premier Datuk Amar Douglas Uggah told the State Legislative Assembly today.
He said the state sales tax contributed RM1.76 billion of the total, while cash compensation in lieu of oil and gas rights accounted for RM1.17 billion.
"A sum of RM608 million was derived from investment dividends, RM229 million from raw water royalty, and RM250 million from interest income," said Uggah, who is also the Second Minister of Finance and New Economy, during his winding-up speech in the State Assembly.
He added that RM65 million came from forestry receipts, RM59 million from land premiums, RM25 million from federal grants and reimbursements, and RM137 million from land rent, mining royalties, and water sales.
Uggah also told the assembly that the state sales tax on oil and gas has contributed a total of RM21.38 billion to the state coffers since 2019.
He said the sales tax on oil and gas remains the major contributor to the overall state revenue.
However, he said that given the challenging economic environment and ongoing geopolitical issues affecting global oil and gas markets, the state government anticipates that this year's revenue projection may be impacted.
