New revenue streams through amended Bills

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THE passing of the Land Code (Amendment) Bill, 2022 and Forests (Amendment) Bill 2022 is a new revenue re-engineering effort in diversifying and expanding the state’s revenue base.

It not only retains the state’s rights over land and airspace but also would help to generate future streams for Sarawak in a significant way, said Second Minister for Finance and New Economy Datuk Amar Douglas Uggah.

Uggah said the Land Code (Amendment) Bill gave the state government the right to control and regulate Sarawak’s land and airspace, including the spectrum above the land.

“It would also allow Sarawak to make provisions for regulating the use of land both onshore and in the continental shelf of Sarawak for the storage of carbon dioxide by oil and gas companies operating in the state.

“With the passing of this Bill, all interested parties are required to apply for necessary approval and licences.

“Hence, charges for the injection of carbon dioxide gases into our onshore or offshore can  be imposed and spectrum fees can be collected,” he said in his winding-up speech today.

On the Forests (Amendment) Bill, 2022, he said it empowered the state government to collect royalties, premia, levies or taxes in connection with forest carbon activities.

“Under this Bill, a licence for forest carbon activity will be issued upon payment of the necessary fees and chargers.

“The Bill also makes it mandatory for any person to obtain a licence before undertaking any forest carbon activity,” he added.

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