KUALA LUMPUR: The Federal Government's revenue is envisaged to increase by 5.9 per cent in 2022 to RM234 billion, in line with better economic prospects.
Tax revenue remains the major contributor to total revenue, consisting of 73.2 per cent of the total share and is expected to increase to RM171.4 billion, the Ministry of Finance (MoF) said in its Fiscal Outlook and Federal Government Revenue Estimates 2022 report released today.
"However, as a percentage to Gross Domestic Product (GDP), the tax revenue is estimated to decline slightly to 10.5 per cent, reflecting lower buoyancy during the economic recovery period," the ministry said.
Direct tax collection is projected to increase by 6.1 per cent to RM127.3 billion, constituting 74.3 per cent of total tax revenue, driven by better corporate earnings prospects resulting from the acceleration in the vaccination programme and anticipated economic recovery.
Hence, companies' income tax (CITA) remains the largest contributor to the increase in direct tax at RM65.5 billion in 2022, said the MoF.
This is followed by individual income taxes, which is expected to improve by three per cent to RM37.5 billion, consistent with the expected improvements in the job market.
"Similarly, petroleum income tax (PITA) is expected to record a higher collection of RM12.4 billion.
"Furthermore, revenue from other components of direct tax, namely stamp duties and Real Property Gains Tax (RPGT), are expected to be higher at RM6.6 billion and RM1.8 billion, respectively, on expectations of higher value and volume of transactions from the property segment," it said.
Indirect tax is forecast is to improve by 5.4 per cent to RM44 billion, mainly contributed by the Sales and Services Tax (SST) collection with a share of 62.5 per cent of total indirect tax, registering RM27.6 billion or 1.7 per cent to GDP, supported by improving consumer and business sentiments.
Meanwhile, non-tax revenue is estimated to increase by 5.8 per cent to RM62.6 billion, primarily due to higher proceeds from investment income.
The annual dividends from Petroliam Nasional Bhd (PETRONAS) and Bank Negara Malaysia are expected at RM25 billion and RM5 billion, respectively. And as in 2021, a total of RM5 billion is expected from the Retirement Fund Incorporated (KWAP) as a contribution to partly finance retirement collection.
The collection from licences and permits is expected to increase slightly to RM10.9 billion, attributed to higher proceeds from petroleum royalties at RM4 billion.
In 2022, petroleum-related revenue is forecast to register RM43.9 billion or 18.8 per cent to total revenue, with dividends from PETRONAS accounting for more than half of the total.
Non-petroleum revenue is also projected to increase by 6.5 per cent to RM190.1 billion, reflecting better revenue diversification on the back of a favourable economic outlook, said the MoF.
"The Government will continue to ensure sustainable non-petroleum revenue generation to meet expenditure commitments, particularly to serve the needs of the people.
"With the commitment to support fiscal reform initiatives, the adoption of the Medium-Term Revenue Strategy will help streamline our tax policy, improve tax administration and enhance the legal framework," the ministry added.
-- BERNAMA
Bernama
Fri Oct 29 2021
![MoF envisages 5.9 pct rise in govt revenue in 2022 MoF envisages 5.9 pct rise in govt revenue in 2022](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2016-09/41473076728_Perbendaharaan.jpg)
Tax revenue remains the major contributor to total revenue, consisting of 73.2 per cent of the total share. Wikipedia - Putrajaya photo
10 Berita Pilihan - (16 Julai 2024
Antara pelbagai berita dalam dan luar negara yang disiarkan di Astro AWANI, berikut adalah yang paling menjadi tumpuan sepanjang hari ini.
PAC beri tempoh tiga bulan kepada HRD Corp
Jawatankuasa Kira-kira Wang Negara (PAC) memberi tempoh tiga bulan kepada Perbadanan Pembangunan Sumber Manusia (HRD Corp) untuk mengemukakan laporan tindakan susulan terhadap syor jawatankuasa itu.
Kylian Mbappe tandatangan kontrak dengan Real Madrid
Bintang bola sepak Perancis Kylian Mbappe menandatangani kontrak selama lima tahun dengan kelab Sepanyol Real Madrid pada Selasa.
Pelepasan ketujuh air sisa nuklear Fukushima ke laut selesai
Jepun telah menyelesaikan pusingan ketujuh pelepasan air sisa radioaktif yang dirawat dari loji kuasa nuklear Fukushima Daiichi ke Lautan Pasifik pada Selasa.
Empat termasuk kapten maut dalam pertempuran
Empat anggota tentera India termasuk kapten meninggal dunia akibat kecederaan selepas pertempuuran pada malam isnin di Hutan Desa.
Pakistan sahkan 4 warganya terbunuh di Oman
Pakistan berkata pada Selasa empat warganya terbunuh dalam insiden tembakan pada malam Isnin berhampiran ibu negara Oman, Muscat.
Lima terbunuh, puluhan cedera dalam protes antikuota di Bangladesh
Sekurang-kurangnya empat orang terbunuh dan puluhan lagi cedera dalam pertempuran antara pelajar yang memprotes sistem kuota dalam pekerjaan sektor awam dan polis di pelbagai bahagian Bangladesh pada Selasa.
Kerajaan cadang perkenal pembiayaan swasta
Kerajaan menyasarkan untuk memperkenalkan pembiayaan swasta alternatif bagi memastikan kemampanan kewangan program sektor air, sekali gus mengurangkan kebergantungan pada perbelanjaan kerajaan dan mengukuhkan daya tahan.
Saya tak fitnah Guan Eng, cuma jelaskan siasatan SPRM - Muhyiddin
Presiden Bersatu Tan Sri Muhyiddin Yassin memberitahu Mahkamah Tinggi Kuala Lumpur hari ini bahawa beliau tidak memfitnah Lim Guan Eng berhubung isu pengecualian cukai terhadap Yayasan Albukhary
KPT alu-alukan dapatan, cadangan PAC - Zambry
Ini termasuklah cadangan pelaksanaan Garis Panduan Pelaburan dan Pembiayaan oleh Universiti Awam 2024 kepada anak-anak syarikat di bawah seliaan Kementerian Pendidikan Tinggi (KPT).
![Seleweng dana RM1.2 bilion: Bekas CEO badan berkanun pula direman Seleweng dana RM1.2 bilion: Bekas CEO badan berkanun pula direman](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-05/81715851342_TBsprm.jpg)
Seleweng dana RM1.2 bilion: Bekas CEO badan berkanun pula direman
Seorang lagi suspek ditahan menjadikan tiga individu direman bagi membantu siasatan berhubung penyalahgunaan kuasa dan penyelewengan dana peruntukan pinjaman daripada Kementerian Kewangan.
![Harga petrol, diesel kekal bagi tempoh 11 hingga 17 April Harga petrol, diesel kekal bagi tempoh 11 hingga 17 April](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-03/61710324462_RON.jpg)
Harga petrol, diesel kekal bagi tempoh 11 hingga 17 April
Harga runcit bagi petrol RON97 dan RON95 serta diesel masing-masing kekal pada RM3.47, RM2.05 dan RM2.15 seliter bagi tempoh 11 hingga 17 April ini.
![MOF komited laksana dasar fiskal progresif kurangkan kemiskinan, ketaksamaan MOF komited laksana dasar fiskal progresif kurangkan kemiskinan, ketaksamaan](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2021-11/81635739513_DatukJohanMahmood.jpg)
MOF komited laksana dasar fiskal progresif kurangkan kemiskinan, ketaksamaan
Sumbangan dasar fiskal terhadap inisiatif mengurangkan kemiskinan dan merapatkan jurang pendapatan adalah minimum dari segi KDNK.
![PM akui wujud keresahan kenaikan harga barang, MOF sedia tampung kesan kenaikan PM akui wujud keresahan kenaikan harga barang, MOF sedia tampung kesan kenaikan](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2023-03/61679558469_TBSAYUR.jpg)
PM akui wujud keresahan kenaikan harga barang, MOF sedia tampung kesan kenaikan
MOF sedia menampung dan memberi bantuan tambahan bagi mengimbangkan kesan kenaikan harga barangan kepada rakyat.
![Harga petrol, diesel kekal dari 31 Ogos hingga 6 September Harga petrol, diesel kekal dari 31 Ogos hingga 6 September](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2022-04/41651063172_Minyak.jpg)
Harga petrol, diesel kekal dari 31 Ogos hingga 6 September
RON97 akan kekal pada RM3.37 seliter, RON95 (RM2.05 seliter) dan diesel (RM2.15 seliter)
![Firma AS minat teroka kemasukan operasi perniagaan baharu ke Malaysia Firma AS minat teroka kemasukan operasi perniagaan baharu ke Malaysia](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2023-07/61688990960_TBStevenSim.jpg)
Firma AS minat teroka kemasukan operasi perniagaan baharu ke Malaysia
Steven Sim berkata AMCHAM menekankan kepentingan kesinambungan kawal selia untuk membantu memudahkan menjalankan perniagaan.
![Kerajaan laksana semula Program Pengakuan Sukarela mulai 6 Jun - MOF Kerajaan laksana semula Program Pengakuan Sukarela mulai 6 Jun - MOF](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2022-10/41665562678_Perbendaharaan.jpg)
Kerajaan laksana semula Program Pengakuan Sukarela mulai 6 Jun - MOF
Beri peluang kepada orang ramai secara sukarela bayar cukai yang bertanggungan tanpa penalti atau pada kadar sifar peratus.
![MOF serah kepada Bank Negara cari remedi kukuhkan ringgit MOF serah kepada Bank Negara cari remedi kukuhkan ringgit](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2023-05/71685074291_BankNegaraMalaysia.jpg)
MOF serah kepada Bank Negara cari remedi kukuhkan ringgit
Timbalan Menteri Kewangan I, Datuk Seri Ahmad Maslan berkata, beliau yakin Bank Negara mempunyai penyelesaian sekiranya AS belum membuat keputusan terhadap permintaan tersebut.
![Muhyiddin dakwa tetap akan diheret ke mahkamah atas arahan pihak tertinggi pentadbiran negara Muhyiddin dakwa tetap akan diheret ke mahkamah atas arahan pihak tertinggi pentadbiran negara](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2023-03/41678375484_MuhyiddinYassin.jpg)
Muhyiddin dakwa tetap akan diheret ke mahkamah atas arahan pihak tertinggi pentadbiran negara
Muhyiddin mendakwa SPRM tidak menemui sebarang bukti terhadap segala pertuduhan yang dikaitkan dengan beliau
![Cukuplah mercu tanda sedia ada, saya tak berhajat buat satu lagi - Anwar Cukuplah mercu tanda sedia ada, saya tak berhajat buat satu lagi - Anwar](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2023-01/61673926183_AnwarIbrahim.jpg)
Cukuplah mercu tanda sedia ada, saya tak berhajat buat satu lagi - Anwar
Tumpuan sebaliknya diberikan kepada aspek kemampanan pembangunan sesebuah bandar terutama di ibu kota Kuala Lumpur.