Where Does Malaysia Get Money For Its Budget [Infographic]

Where Does Malaysia Get Money For Its Budget [Infographic]

Written by Illustration by Sara de Souza

Budget 2021 is set to be tabled soon, and by all predictions it’ll be on the leaner side of spending. With this in mind, have you ever wondered where the Malaysian government gets the money to spend (aside from oil revenue)?

Budget 2021
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Here’s how we did for Budget 2020

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262 money-budget
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  • Petronas paid the federal government RM54 billion in dividends.

  • Petroleum and gas royalties bring in another RM6 billion.

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  • Oh, and another RM18 billion from petroleum taxes.

  • In total, that’s 29.7% of our federal revenue.

  • In comparison, Malaysians paid RM35 billion in income tax.

  • Companies paid RM70 billion.

  • Indirect taxes contributed RM41 billion. This includes export duties, sales tax, service tax, excise duties, etc.

This is what the overall breakdown looks like
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Income tax
14.5%

Others
14.5%

Company income tax
26.8%

Petroleum
29.7%

Indirect tax
14.5%



Most of this revenue was eventually spent on:

RM68 billion

for the Ministry of Finance

RM59 billion

for education

RM28 billion

for public healthcare

Summary

RM250 billion
PRIHATIN Rakyat

RM35 billion
PENJANA

RM10 billion
Kita Prihatin

Budget 2021 announcement is around the corner, what do you hope to see from it?

Visit our special micro-site for more updates and information about Budget 2021

Created by:

October 2020

Source

https://www.treasury.gov.my/index.php/en/economy/economic-data.html

https://www.treasury.gov.my/pdf/budget/budget_info/2020/revenue/section2.pdf

https://www.bnm.gov.my/ar2019/files/emr2019_en_ch2.pdf

https://sites.thestar.com.my/budget2020/visual-story.aspx

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