News Formal

Finance Ministry: Federal govt expected to register RM244.5b in revenue next year | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

KUALA LUMPUR, Oct 11 — The Finance Ministry (MoF) has predicted the federal government’s revenue to register RM244.5 billion or 15.2 per cent of the Gross Domestic Product (GDP) in 2020. According to the MoF’s Fiscal Outlook and Federal Government Revenue Estimates 2020 report, the amount...

Friday, 11 Oct 2019 04:23 PM MYTAccording to the MoF’s Fiscal Outlook and Federal Government Revenue Estimates 2020 report, the amount will be derived from the collection of tax revenue expected at RM189.9 billion and non-tax revenue at RM54.6 billion. — Picture by Choo Choy May

“The government will enhance its revenue base, reduce the tax gap and improve tax efficiency to provide a sustainable revenue collection. “Higher collection from CITA is primarily contributed by better corporate earnings prospects and continuous efforts in enhancing auditing and tax compliance,” it said.

However, the ministry said the federal government’s non-tax revenue in 2020 is projected to decline by 7.1 per cent from 2019’s estimate of RM263.3 billion following lower crude oil price from petroleum-related revenue. “The revised total revenue is expected to increase RM1.5 billion to RM263.3 billion compared to original estimates, constituting 17.4 per cent of GDP,” it said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Finance Ministry: Overall federal govt debt, liabilities at RM1.17t as of June this year | Malay MailKUALA LUMPUR, Oct 11 — The overall federal government debt and liabilities exposure is estimated at RM1.17 trillion or 77.1 per cent of Gross Domestic Product (GDP) as of end of June 2019, the Finance Ministry (MoF) said today. According to the MoF’s Fiscal Outlook and federal Government...
Source: malaymail - 🏆 1. / 86 Read more »

Two men linked to Trump’s lawyer arrested on campaign-finance violations | Malay MailWASHINGTON, Oct 10 — Two Florida businessmen associated with US President Donald Trump’s personal lawyer Rudy Giuliani have been arrested over violations of campaign finance laws, a spokesman for the Manhattan US Attorney’s office said on Thursday. The businessmen, Lev Parnas and Igor Fruman,...
Source: malaymail - 🏆 1. / 86 Read more »