RM1.25 bln petroleum sales tax collected from Petronas so far

RM1.25 bln petroleum sales tax collected from Petronas so far. [Newspaper] (2021)


The Sabah government has collected RM1.25 billion in sales tax on petroleum products from Petroliam Nasional Bhd (Petronas) since the tax was introduced last year. Chief Minister Datuk Hajiji Noor said this consisted of RM177.88 million for 2020 and RM1.07 billion this year up to August.
The sales tax on petroleum products was part of the RM3.83 billion revenue collected by the state as of Aug 31 this year, he said, adding that the state’s revenue collection exceeded the target set for the period by 120 per cent.
Hajiji noted that the payment of petroleum sales tax was included in the agreement reached in his first meeting with former prime minister Tan Sri Muhyiddin Yassin after he took his oath of office as chief minister and Gabungan Rakyat Sabah (GRS) took over the state’s administration a year ago.
“Among the things agreed on was for Petronas to start paying sales tax on petroleum products immediately,” he said at a ceremony to commemorate the administration’s first year in power at the Sabah International Convention Centre on Wednesday.

Item Type: Newspaper
Keywords: Taxation, Economic Growth, Petroleum products
Taxonomy: By Subject > Business & Management > Economics
By Subject > Business & Management > Finance
By Subject > Business & Management > Management
Local Content Hub: Subjects > Business & Management
Depositing User: Asrizam Awang Aman
Date Deposited: 05 Jan 2022 04:14
Last Modified: 05 Jan 2022 04:14
Related URLs:

Actions (login required)

View Item View Item