Where Does Malaysia Get Money For Its Budget [Infographic]
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)?
Here’s how we did for Budget 2020
Petronas paid the federal government RM54 billion in dividends.
Petroleum and gas royalties bring in another RM6 billion.Advertisement
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.
Company income tax26.8%
for the Ministry of Finance
for public healthcare
RM250 billion PRIHATIN Rakyat
RM35 billion PENJANA
RM10 billion Kita Prihatin