MARKET DEVELOPMENT
Masing: We Have Done Our Part, I Hope Others Do Theirs
Masing: We Have Done Our Part, I Hope Others Do Theirs
08/04/2014 (Borneo Post) - While the Land Development Ministry is playing its part to produce palm oil, it expects other authorities to perform their duties in collecting sales tax.
“My ministry has done our part in producing as much palm oil as we should have. Whatever produced must be taxed properly so that we can reap the best benefit from the land used for oil palm planting.
“The planters who are to pay tax must pay it accordingly, and the authorities responsible for it must make sure that the planters pay what is due to the state,” said Land Development Minister Tan Sri Dr James Jemut Masing when commenting on the recent AG’s Report.
According to the AG’s Report, for the year 2011 to 2013, the state government collected RM20.97 billion in revenue. Out of this, RM3.75 billion, or 17.9 per cent, is from taxes, comprising sales tax, export tax, premiums, royalties, duties, port dues and rentals. Sales tax revenue was generated from tax imposed on lottery, royalties, crude palm oil (CPO) and crude palm kernel oil (CPKO).
During the same period, sales tax revenue from CPO was the highest sales tax revenue collected, amounting to RM1.13 billion or 72.4 per cent, while RM62.51 million, or four per cent, was collected for CPKO.
The audit carried out in November and December 2013 in the State Treasury Department found the management of sales tax collection on palm oil satisfactory, except for some weaknesses, such as “estimate for sales tax on palm oil was not prepared satisfactorily, monitoring was not carried out according to plan, and plan for distribution of officers for jobs related to source of potential revenue such as sales tax revenue on palm oil was unsatisfactory”.
To ensure that the management of revenue collection on palm oil by the state government is carried out efficiently and effectively, among some of the remedial ways suggested by the AG is that the state Treasury Department “should monitor or inspect tax-paying companies based on stipulated criteria to ascertain no company is not inspected exceeding a period of three years to ensure that the state government received its revenue accordingly”.
Masing said the Report proved to show that the palm oil industry had been vital to the state’s economy.
“I have done my part in planting oil palm. I hope other authorities do their best in collecting the revenue so earned by oil palm.”
Masing added that since palm oil had contributed such a high percentage in terms of sales tax revenue, he hoped for more allocation to his ministry to ensure “better ability and situation” to push the industry forward.
“We are like engines. If you don’t give us oil, we won’t be able to function well. Our ministry is also like the goose that lays the golden egg. So don’t neglect me.
“If there are no resources, my ministry would not be able to carry out our duties to the best of our capabilities.”
“My ministry has done our part in producing as much palm oil as we should have. Whatever produced must be taxed properly so that we can reap the best benefit from the land used for oil palm planting.
“The planters who are to pay tax must pay it accordingly, and the authorities responsible for it must make sure that the planters pay what is due to the state,” said Land Development Minister Tan Sri Dr James Jemut Masing when commenting on the recent AG’s Report.
According to the AG’s Report, for the year 2011 to 2013, the state government collected RM20.97 billion in revenue. Out of this, RM3.75 billion, or 17.9 per cent, is from taxes, comprising sales tax, export tax, premiums, royalties, duties, port dues and rentals. Sales tax revenue was generated from tax imposed on lottery, royalties, crude palm oil (CPO) and crude palm kernel oil (CPKO).
During the same period, sales tax revenue from CPO was the highest sales tax revenue collected, amounting to RM1.13 billion or 72.4 per cent, while RM62.51 million, or four per cent, was collected for CPKO.
The audit carried out in November and December 2013 in the State Treasury Department found the management of sales tax collection on palm oil satisfactory, except for some weaknesses, such as “estimate for sales tax on palm oil was not prepared satisfactorily, monitoring was not carried out according to plan, and plan for distribution of officers for jobs related to source of potential revenue such as sales tax revenue on palm oil was unsatisfactory”.
To ensure that the management of revenue collection on palm oil by the state government is carried out efficiently and effectively, among some of the remedial ways suggested by the AG is that the state Treasury Department “should monitor or inspect tax-paying companies based on stipulated criteria to ascertain no company is not inspected exceeding a period of three years to ensure that the state government received its revenue accordingly”.
Masing said the Report proved to show that the palm oil industry had been vital to the state’s economy.
“I have done my part in planting oil palm. I hope other authorities do their best in collecting the revenue so earned by oil palm.”
Masing added that since palm oil had contributed such a high percentage in terms of sales tax revenue, he hoped for more allocation to his ministry to ensure “better ability and situation” to push the industry forward.
“We are like engines. If you don’t give us oil, we won’t be able to function well. Our ministry is also like the goose that lays the golden egg. So don’t neglect me.
“If there are no resources, my ministry would not be able to carry out our duties to the best of our capabilities.”