KUALA LUMPUR (Oct 11): Few may know that the motor vehicles, trailers and semi-trailers sector is a major contributor to the government's tax revenue. The sector generated RM13.16 billion tax revenue in 2015, which was 24.9% of the government's total tax collection of RM52.9 billion from commodity. Motor vehicles, trailers and semi-trailers continued to be the main contributor to tax collection, with a five-year compound annual growth rate of 2.5% accounting for a 24.9% share in 2015, followed by tobacco products at RM5.17 billion (10.3% growth; 9.8% share). Crude oil and natural gas contributed RM1.81 billion or a share of 3.4%; while telecommunications contributed RM1.43 billion (2.7%). Notably, coke and refined petroleum products and telecommunications, which were ranked second and fourth in 2010, declined to third and seventh position in 2015, respectively.

Source: The Edge Markets October 11, 2019 08:03 UTC