BY ERMIZI MUHAMAD
SHAH ALAM, OCT 31: The State Government forecasts the turnover for 2017 to increase by 81.7%, or RM2.55 billion, compared to last year’s RM2.25 billion.
Dato’ Menteri Besar, Dato’ Seri Mohamed Amzin Ali said the total includes multiple prospective income sources that contribute to the increased revenue, which covers the collection of taxes and state investment.
“The main contributors are the State Government land premium (54.2%), land tax revenue (19.5%) and land-related transactions (8.0%).
‘In addition, the State also received revenues from fixed deposit investment (32.2%), entertainment tax (2.2%) and taxation of forest products, specifically from quarry production (1.9%),” he said.
Mohamed Azmin said this while tabling the State Budget for 2017 at the Selangor State Legislative Assembly on October 31.
Until October 28, the State recorded RM2.27 billion in revenue, which was an increase of 101.2%.
Mohamed Azmin said an increase of RM2.25 billion had achieved the estimated target of the 2016 Budget.
He said the progress was also due to the public service’s commitment and industry players that ignited the state’s economic growth.
He also said the state government’s revenue surged to RM3.62 billion compared to RM3.26 billion on December 31, 2015.
