KOTA KINABALU: Sabah collected RM1.79 billion in sales tax from petroleum products, the state assembly heard today.
Second finance minister Masidi Manjun said the revenue exceeded the state government’s target of RM1.1 billion.
The earlier target was based on oil prices at US$53 per barrel. However, as prices rose, the state collected higher revenue.
Masidi was responding to a question from appointed assemblyman Yong Teck Lee on the estimated amount of sales tax collected from the oil and gas sector for 2022.
Responding to another question from Yusof Yacob (BN-Sindumin) on the difference in sales tax collected between Sabah and Sarawak, Masidi said Sarawak’s tax revenues were “much higher”.
He said this was because there were more downstream oil and gas activities in Sarawak.
However, he said the Sabah government was looking at ways to increase its sales tax collection.