Kota Kinabalu: The State Government is expected to continuously collect about RM2.45 billion per year in royalties and State Sales Taxes (SST) from the oil and gas (O&G) sector following the inclusion of Petrochemicals (PetChem) in the SST Enactment recently, said Chief Minister Datuk Seri Hajiji Noor.
He said depending on the oil prices, Sabah can expect to collect the said amount of royalties and SST payments per year.
According to him, following the inclusion of PetChem in the SST Enactment, Petronas Chemical has made an additional contribution of RM10 million for the month of August this year to the Sabah SST collection for its ammonium and urea plant operations in the Sipitang Oil & Gas Industrial Park (SOGIP).
He also confirmed that Hibiscus Petroleum has cleared all outstanding SST payments.
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