Government revenue increased 4.6% year-on-year to RM106.4 billion in the first half (H1) of 2021, which fell below the Budget 2021 estimate.
Deputy Finance Minister I Mohd Shahar Abdullah said the federal government’s revenue for the entire year is projected to rise 4.2% to RM236.9 billion or 15.1% of the GDP based on the forecast for economic growth and business prospects.
Of the H1 total, tax revenue comprised RM80.2 billion while non-tax revenue contributed RM26.2 billion, Bernama had reported.
“Of the tax revenue, RM58.3 billion came from direct taxes while indirect taxes made up RM21.9 billion,” he disclosed in the Dewan Rakyat today.
He was replying to an oral question from Fong Kui Lun (DAP-Bukit Bintang) on the country’s financial position in terms of revenue and expenditure as the Covid-19 pandemic entered its second year.
In Budget 2021, the fiscal deficit for the year was projected to be 5.4% of GDP based on an estimated economic growth of 6.5-7.5%.
