A sharp drop - government revenue at a glance

 

Below are key figures on revenue based on the Finance Ministry's Fiscal Outlook and Federal Government Revenue Estimates 2021:

Total revenue estimate - RM227.3b (↓ 14 percent, 2019: RM264.4b)

Estimate tax revenue - RM153.3b (↓ 15.1 percent, 2019: RM180.57b)

Direct taxes - RM115.1b (↓ 14.6 percent, 2019: RM134.7b)

Corporate taxes - RM59.4b (↓ 21 percent, 2019: RM63.7b)

Individual taxes - RM35.9b (↓ 2 percent, 2019: RM35.2b)

Indirect taxes - RM38.1b (↓ 14 percent, 2019: RM44.4b)

Non-tax revenue - RM74b (↓ 11.7 percent, 2019: RM83.85b)

Petronas dividends - RM34b (↓ 37 percent, 2019: RM54b (includes RM30b special dividend for GST refunds)

Petroleum derived revenue - RM50b (↓ 40.3 percent, 2019:83.8b)

Budget 2021 at a glance

Total budget for 2021: RM322.54b (↑ 8.6 percent, 2020:RM297.02b)

Operational expenditure: RM236.54b (↓ 1.9 percent, 2020:RM241.02b)

Development expenditure: RM69b (↑ 23.21 percent, 2020:RM56b)

Covid-19 fund: RM17.09b (new category)

Projected deficit for 2021: 5.4% (2020:6 percent [estimate])

Projected revenue for 2021: RM236.9b (2020:RM227.27b, 2019:RM264.415b)

Projected tax revenue for 2021: RM174.36b (2020:RM153.26b, 2019:RM180.57b)

Projected non-tax revenue for 2021: RM62.53b (2020:RM74b, 2019:RM83.85b)

Proportion funded by borrowings: 26.5 percent (2020:17.7 percent)

For more details, please read our Budget 2021 Visualised page. - Mkini