By Lian Cheng
KUCHING, Nov 29: As of October this year, State Sales Tax (SST) on petroleum products has contributed RM14.7 billion to Sarawak’s coffers since it was imposed in 2019.
Second Finance Minister Datuk Amar Douglas Uggah Embas said Sarawak collects about RM3.5 billion annually and has become one of the major revenue generators, contributing about 33 per cent to Sarawak’s overall revenue.
Uggah, who is also Bukit Saban assemblyman (GPS-PBB) added that the passing of the Environment (Reduction of Greenhouse Gases Emission) Bill, 2023 will open Sarawak to new revenue sources.
“The Bill, as we know, aims to regulate greenhouse gas emissions, promote carbon capture and storage, and mitigate climate change effects as to achieve net zero carbon emissions by 2050.
“However, it is also important to note that this new Bill will open the opportunity for the State to tap new sources of revenue that will ultimately enhance our fiscal flexibility in managing our economic development agenda, including climate change initiatives,” said Uggah when delivering his ministerial winding-up speech at the Sarawak Legislative Assembly here today.
Apart from that, he said his ministry will continue to strengthen Sarawak’s revenue administration, focusing and effectively managing on areas that can facilitate revenue generation and collection by leveraging on digitalisation, enforcing greater compliance on revenue collection, alleviating revenue leakages, and promoting a strong culture of accountability and transparency in public finance. — DayakDaily
