15.01.2024 (Daily Express) - Kota Kinabalu: Sabah still managed to record its highest revenue collection at RM6.971 billion in 2023 – an increase of RM11 million the previous year – despite declining prices of crude palm oil (CPO) and crude oil (CO) last year,

State Finance Minister Datuk Seri Masidi Manjun said with 68 per cent of the State’s revenue contributed by CPO and CO, Sabah’s revenue collection was initially slated to be lower by RM566.3 million in 2023 compared to 2022. 

“We actually expected the revenue to drop further because of the rather low price CO and CPO. But I praise (the Ministry’s) revenue section acted like ‘ah longs’ (loan sharks) in collecting revenue. 

“I am very proud of the Ministry’s staff who are very committed and work hard so we can overcome the deficiency through other revenue collections and mitigate this loss somewhere. 

“Special congratulations and well done to the State Sales Tax Department who performed their duties with excellence,” he said at the Finance Ministry Night at Magellan. 

Sabah’s revenue collection recorded an increase in the last three years – from RM5.449 billion in 2021 to RM6.960 billion in 2022 and RM6.971 billion in 2023. 

Additionally, Masidi said the State Government received RM154.8 million in dividends and contributions from public agencies, exceeding the Ministry’s Key Performance Index (KPI) target of RM120 million.

“I am aware that it is not an easy task. It is easier said than done because in actual fact it requires patience and at the same time seriousness in collecting debt,” he said. 

Meanwhile, on ascertaining the payment mechanism for Sabah’s 40 per cent tax revenue owed by Putrajaya as enshrined in Article 112C of the Federal Constitution, Masidi said the challenge lies in acquiring the necessary data for it.  

“All I can say here is we are having a critical problem in getting all the data we require for the purpose of determining the baseline to calculate the 40 per cent,” he said. 

Last year, United Progressive Kinabalu Organisation (Upko) President Ewon Benedick said the Federal Government has agreed to finalise the formula for revenue sharing with Sabah by July this year.

https://www.dailyexpress.com.my/news/226969/rm6-9-billion-revenue-despite-lower-cpo-prices/