KUCHING: Sarawak can expect to expedite its development through the revenue collected by the state thus far.
Academy of Sciences Malaysia fellow Datuk Dr Madeline Berma said with the highest revenue collection recorded for the financial year 2022, development allocations can be increased.
“The State Sales Tax (SST) imposed by the state government since 2019 is a major revenue contributor. Data shows that there is improved performance in SST collection, and it was due to higher market prices in 2022 for oil and gas products and oil palm products.
“Sarawak will be able to increase its development allocations especially on infrastructure development, health and education, thus creating jobs,” she told New Sarawak Tribune when contacted yesterday.
Of the 2022 revenue, taxes contributed RM6.7 billion or 56 per cent of the total revenue, while the other categories made up 44 per cent.
SST contributed 84 per cent or RM5.6 billion of the total tax revenue collected. The taxable products under SST, among others, comprise oil and gas products, oil palm products and aluminum.
At the same time, Madeline said Sarawak’s doubled revenue reflected Sarawak’s economy as being healthy and well-managed.
“The state fiscal strategy is well-balanced. Increases state’s revenue, manages debt prudently, exercises strict control over operating expenditures and reduces budget deficits.
“Half of the revenue is from taxes. And the remainder is from non-tax revenues,” she said.
However, she said Sarawak, despite its high revenue is marred by contradictions.
“While its revenue has doubled, and it (Sarawak) is among the richest in terms of natural resources, it has also been among the poorest in Malaysia.
“Data shows that there is disparity between gross domestic product (GDP) growth and income levels,” she said, adding that 67,000 Sarawakians are classified as poor and registered in the National Poverty Data Bank System (e-KASIH).
