5% tax on petroleum products will affect market, warns Azmin - Nation - News Summed Up

5% tax on petroleum products will affect market, warns Azmin - Nation


KUCHING (Bernama): The Sarawak government's move to impose a 5% sales tax on petroleum products produced in the state will not only affect Petronas, but also the market, says Economic Affairs Minister Datuk Seri Azmin Ali. "Nevertheless, we respect the proposal which had been tabled and I am taking a proactive stand to discuss the matter further with the Sarawak state government,” Azmin said, adding that Petronas would also give its views on this. According to Azmin, any increase in tax would have an impact on the production of petroleum products in Sarawak. Abang Johari, who is also Sarawak Finance Minister in tabling the State Budget 2019 on Monday (Nov 5), announced that the state government would impose a 5% sales tax on petroleum products beginning January 2019. In another development, the Economic Affairs Minister said the federal government would ensure that Sabah and Sarawak would not miss out on infrastructure development projects.


Source: The Star November 07, 2018 10:30 UTC



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