Malaysia aims to cut oil revenue contribution to below 30 per cent


Dateline 2014-04-12, Malay Mail Online:

The government is looking to reduce its dependency on oil revenue to below 30 per cent by broadening the tax base, said Minister in the Prime Minister’s Department, Datuk Seri Abdul Wahid Omar.

He said reducing the dependency on oil revenue would be plausible by improving the collection of other forms of tax revenue and by broadening the tax base with the goods and services tax.

Abdul Wahid, however, declined to specify a timeframe for the target. “We have commenced to diversify revenue sources and strengthened revenue collection. The government’s revenue was 12.1 per cent higher at RM207.9 billion in 2012 from RM185.4 billion in 2011.

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This entry was posted on Sunday, May 25th, 2014 at 6:00 am and is filed under Malaysia, Malaysian election, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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