Federal Government’;s 2012 revenue rises 12.1% to RM207.913 billion

December 2, 2013 5:55 AM

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The Auditor General in a statement today said tax revenue, non-tax revenue and non-revenue receipts also showed an increase compared with 2011.

Details are from the Auditor General's Report on the Financial Statements and Financial Management for 2012.

The third series of the 2012 Auditor General's Report on the Financial Statements and Financial Management for 2012 and the activities of the Federal Government, Federal Statutory Bodies and State Governments is to be tabled in Parliament today.

According to the report, much of the rise in revenue was contributed by petroleum, company and individual income tax, interest and returns on investment, licences, registration payments and permits, stamp duty and service tax.

The rise in the price of global crude oil, the strong development of the domestic economy, a higher dividend payment by Khazanah Nasional Bhd as well as sustained enforcement activities by the Inland Revenue Board Malaysia (IRB) and the Customs Department also boosted revenue.

The IRB was successful in collecting RM124.892 billion in 2012 compared with RM109.608 billion in 2011 — an increase of RM15.284 billion or 13.9%.

The Customs Department on the other hand collected RM32.319 billion in 2012 compared with RM30.379 billion previously, an increase of RM1.940 billion or 6.4%. - Bernama, December 2, 2013.

Source: news.malaysia.msn.com

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