By SEMATAN: The upsurge in oil prices worldwide would mean that Sarawak stand to gain more from its State Sales Tax (SST) imposed on petroleum products.
Premier Datuk Patinggi Tan Sri Abang Johari Tun said he expects a larger payout from SST this calendar year. Current oil price per barrel now is USD122 on Saturday (June 11).
“The world oil price is currently at about USD122 per barrel, previously I estimated that it would only go as high as USD70 per barrel,” he said.
He was speaking at a function to launch the pontoon at Sematan Waterfront here.
In responding to a request by Tanjung Datu assemblyman Azizul Annuar Adenan to upgrade the jetties in the village, the premier gave his word that it will be implemented in due course.
“This year there must be a balance (of revenues generated from SST), we will give the funding (to the people in Tanjung Datu) to build the jetties.We will replace the old wooden jetties,”
Last month, Abang Johari said the state garnered payments in SST from oil and gas companies amounting to RM8.52 billion.
SST was implemented since Jan 1, 2019 with the tax imposed to the companies at a rate of five per cent.
Earlier, Deputy Minister in Premier of Sarawak’s Department (Labour, Immigration and Project Monitoring) Datuk Gerawat Gala told an English daily that SST collected this year could exceed the figure from 20 per cent oil royalty.
“The (ruling coalition) Gabungan Parti Sarawak (GPS)’s success in getting five per cent sales tax on petroleum products has given Sarawak more revenues.
“(This is more than) the 20 per cent royalty on crude (oil), which was promised by PH but was never fulfilled,” he was quoted saying.
Comments