THE state’s revenue is projected to total RM5.321 billion next year with tax revenue accounting for RM1.2 billion with non-tax revenue of RM3.9 billion making up the balance.
According to Chief Minister Datuk Patinggi Tan Sri Adenan Satem, forest royalty and premium would contribute the biggest chunk of the tax revenue at RM539 million, while RM440 million would be from sales tax, RM320 million from crude palm oil and crude palm kernel oil and RM120 million from lottery.
“Other tax revenue projected are from raw water and mining royalties, land rents and others at RM271 million,” said Adenan, who is also the Finance Minister when tabling the Supply (2017) Bill.
Adenan further elaborated that the non-tax revenue comes from RM1.577 billion compensation in lieu of oil and gas rights, dividends income at RM755 million, RM1.011 from interest income and RM300 million from land premiums.
“The non-tax revenue also came from compensation in lieu of import and excise duties on petroleum products at RM120 million and licences, service fees, permit and rentals at RM137 million,” he added.
Adenan added that non-tax revenue of RM21 million is expected from forest liquidated damages and disposal of assets while federal grants and reimbursements is expected to be at RM150 million.
Adenan proposed a sum of RM5.706 billion for ordinary expenditure for next year comprising RM2.206 billion for operating expenditure and RM3.5 billion proposed for appropriated statutory funds to finance development programmes and projects. “The proposed allocation of RM2.206 billion for operating expenditure is an increase of RM133 million or six per cent over the approved expenditure of RM2.073 million this year,” he elaborated.
“Out of the total amount proposed for operating expenditure in 2017, RM735 million or 33 per cent is for personnel emoluments, RM749 million or 34 per cent for supplies and services, RM678 or 31 per cent for grants and fixed payments, RM34 million for procurement of assets and RM10 million for other operating expenses.”
The chief minister also highlighted the distribution of development budget for 2017 which be a fair distribution to ensure sustainable and balanced development between urban and rural areas.
Source : The Borneo Post Online