2. Revenue and Expenditure
The government revenue for 2021 is estimated at RM162.1 billion, of which RM120.0 billion is from Direct Taxes and RM42.1 billion is from Indirect Taxes. However, the revenue recorded as of July 2021 was only RM92.2 billion (56.8% of estimated revenue) which is below expectations. The government expenditure for 2021 is estimated at RM322.5 billion of which RM185.9 billion had been spent by July 2021 (59.1%).
3. Strategies to Increase Tax Revenue
The government is considering the following tax measures:
Read the 2022 Pre-Budget Statement by the Ministry of Finance here >>>