Tax & Revenue

Five per cent Tax on Petroleum Products will affect Market - Azmin

Date: 07 November 2018; Type: Industry Updates; Source: Bernama

KUCHING, Nov 7 (Bernama) - The Sarawak government’s move to impose a five per cent sales tax on petroleum products produced in the state will not only affect Petronas but also the market, said Economic Affairs Minister Datuk Seri Mohamed Azmin Ali.

He said the matter should be discussed further as any increase in costs due to additional tax would lead to lesser demand as it would be more expensive than products produced in other oil producing countries.

"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 their views on this.

He said this at a press conference after making a courtesy call on Sarawak Chief Minister Datuk Patinggi Abang Johari Tun Openg at his office at the Sarawak state legislative assembly building here today.

Also present was Works Minister, Baru Bian.

According to Azmin, any increase in tax would have an impact on production of petroleum products in Sarawak.

Abang Johari who is also Sarawak Finance Minister in tabling the State Budget 2019 on Monday announced that the state government would impose a five per cent sales tax on petroleum products beginning Jan 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.

He said the federal and state governments have agreed to work closely together to ensure that infrastructure development such as utility projects and upgrading of schools in both states would continue.

In addition he said the federal government had decided to continue with the the Pan Borneo Highway project in both states as the project would create economic opportunities.

He added that Abang Johari had in the meeting today assured that he would work on strengthening relations with the federal government.

MY Bernama

Asean LIP works with Bernama to bring you the latest Malaysian legal news. Bernama is the national news agency of Malaysia. You shall not reproduce the above/ attached materials in whole or in part without the prior written consent of the Publishers and/or Bernama. Neither the Publishers nor Bernama will be liable for any loss, injury, claim, liability, or damage caused directly, indirectly or incidentally to errors in or omissions from the above/ attached materials. The Publishers and Bernama also disclaim and exclude all liabilities in respect of anything done or omitted to be done in reliance upon the whole or any part of the above/attached materials. The access to, and the use of, Asean LIP and contents herein are subject to the Terms of Use.

Get ASEAN LAW ALERT

Legal updates by e-mail. It's Free.

INDUSTRY UPDATES

Selangor wants tougher Environmental Laws

SHAH ALAM, Mar 17 (Bernama) - The Selangor government wants to enforce more stringent laws to address issues related to environmental pollution in the state, said Menteri Besar Amirudin Shari.

Read More

INDUSTRY UPDATES

Rosmah's Graft Case transferred to High Court

KUALA LUMPUR, Mar 15 (Bernama) - The High Court here today allowed the prosecution's application to transfer from the Sessions Court to the High Court the case involving two graft charges filed against Datin Seri Rosmah Mansor, who is the wife of former Prime Minister Datuk Seri Najib Tun Razak.

Read More

INDUSTRY UPDATES

SC to facilitate Greater Investor Inclusiveness

KUALA LUMPUR, March 14 (Bernama) - Opening local corporate bonds and sukuk to retail investors who meet the requirements set are among the steps taken by the Securities Commission Malaysia (SC) to promote investors inclusiveness in the local market.

Read More

INDUSTRY UPDATES

SC aims Further Expansion of Islamic Capital Market, says Chairman

KUALA LUMPUR, March 14 (Bernama) - The Securities Commission (SC), the regulatory body of the capital market, aim to foster growth that is premised on long-term value creation by intensifying efforts to further expand the Islamic capital market as well as the closely-linked sustainable finance segment.

Read More

INDUSTRY UPDATES

CJ seeks to remove Parts of Hamid Sultan's Affidavit

KUALA LUMPUR, Mar 13 (Bernama) - Chief Justice Tan Sri Richard Malanjum today filed an application to remove parts of the supporting affidavit filed Court of Appeal Judge Datuk Dr Hamid Sultan Abu Backer in the lawsuit by the late Karpal Singh’s daughter, claiming that it was outrageous, insulting and an attack to the Judiciary.

Read More

INDUSTRY UPDATES

Up to PM to shortlist Candidates for CJ's Post - Liew

KUALA LUMPUR, Mar 12 (Bernama) - The Law Minister in the Prime Minister’s Department Datuk Liew Vui Keong today said that he has no information about the candidates shortlisted to be appointed as the new Chief Justice to replace Tan Sri Richard Malanjum who will retire from the post next month.

Read More

INDUSTRY UPDATES

Sabah helps Children without Documents through Legalization Program

KOTA KINABALU, Mar 12 (Bernama) - Children born in Sabah and categorised as foreigners even though one of their parents were local residents, will be given aid through a legalisation programme which will ensure a better future for them.

Read More

INDUSTRY UPDATES

National Income Tax still Competitive

KUALA LUMPUR, March 11(Bernama) - The income tax in this country is still competitive compared to other nations.

Read More

INDUSTRY UPDATES

Najib seeks Court Directive on gag Order against Media, Public

PUTRAJAYA, Mar 11 (Bernama) - Datuk Seri Najib Tun Razak wants a court directive to inform members of the public and media on what can and cannot be discussed and published pertaining to his criminal case involving SRC International Sdn Bhd funds, the Court of Appeal heard.

Read More

INDUSTRY UPDATES

King's Inaugural Speech at First Meeting of Second Term of 14th Parliament draws Attention

KUALA LUMPUR, Mar 11 (Bernama) - The first meeting of the second term of Parliament begins today which will be aired live via television and live stream.

Read More

INDUSTRY UPDATES

Dewan Rakyat : Proposal to restore Sabah, Sarawak's Status to be Main Focus

KUALA LUMPUR, Mar 9 (Bernama) - The proposal to restore the original status of Sabah and Sarawak as enshrined in the Malaysia Agreement 1963 (MA63) is expected to be the focus of the first meeting of the second session of the 14th Parliament which opens Monday.

Read More

INDUSTRY UPDATES

Appeals Court to wait for Federal Court Decision to hear Puncak Niaga's Appeal

PUTRAJAYA, Mar 8 (Bernama) - The Court of Appeal today postponed hearing of an appeal by Puncak Niaga Holdings Bhd to reinstate its RM13.5 billion lawsuit against two former Selangor menteris besar and the Selangor government over the restructuring of the state water industry.

Read More

INDUSTRY UPDATES

Nik Azman Nik Abdul Majid New Auditor-General

PUTRAJAYA, Mar 8 (Bernama) - Datuk Nik Azman Nik Abdul Majid, the Economic Affairs Ministry secretary-general, is the new auditor-general.

Read More

INDUSTRY UPDATES

Federal Constitution does not Bar Non-Malay from becoming AG, CJ, Finance Minister - Expert

KUALA LUMPUR, Mar 6 (Bernama) - There is no provision in the Federal Constitution that states a non-Malay cannot hold any position in the administration, Parliament or the Judiciary, said prominent constitutional law expert Emeritus Professor Datuk Dr Shad Saleem Faruqi.

Read More

INDUSTRY UPDATES

Amendment to Dangerous Drugs Act, imposing Mandatory Death Penalty unconstitutional - Lawyer

PUTRAJAYA, Mar 6 (Bernama) - Amendment to the Dangerous Drugs Act in 1983 which imposed the mandatory death sentence on offenders convicted for drug trafficking was unconstitutional, the Federal Court heard today.

Read More