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MIRI – Sarawak has recorded its best financial performance with a revenue of RM11.9 billion for 2022, the highest amount collected by the state to date.
Borneo Post reported that Premier Tan Sri Abang Johari Openg said in Kuching that the figure is 17% higher than its projected revenue for last year which was RM10.2 billion.
“The taxable products under SST, among others, comprise oil and gas products, oil palm products, and aluminium. The improved performance in SST collection was due to higher market prices in 2022 for oil and gas products and oil palm products,” Abang Johari reportedly said.
The collection comprised tax revenue, non-tax revenue, non-revenue receipts and federal grants and reimbursement.
Tax contributed the bulk of it at RM6.7 billion or 56% of the total income. Other categories contributed 44% to Kuching’s coffers.
State Sales Tax (SST) amounted to 84% or RM5.6 billion of the tax collected. – The Vibes, February 2, 2023
