<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 2): The federal government's share of petroleum-related revenue to its total revenue is estimated to drop slightly to 19.5% in 2019 from 21.7% in 2018, indicating that the government still has diverse sources of revenue despite the cut in consumption-based taxes.</p></div>

<div class=newsTextDataWrapInner><p>The figure has not taken into account the special dividend to be received from Petroliam Nasional Bhd (Petronas), the Ministry of Finance said in its Economic Report 2018/19, titled Fiscal Outlook 2019.</p></div>

<div class=newsTextDataWrapInner><p>"Even with the reduction in consumption-based tax, the share of petroleum-related revenue is still lower than the annual average of 34.6% recorded during the 2009-2014 period.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"This indicates that the government's sources of revenue remain fairly diversified," read the report.</p></div>

<div class=newsTextDataWrapInner><p>Nonetheless, the ministry said the federal government is expected to enhance its non-petroleum revenue base, particularly from efforts under its tax reform initiatives.</p></div>


KUALA LUMPUR (Nov 2): The federal government's share of petroleum-related revenue to its total revenue is estimated to drop slightly to 19.5% in 2019 from 21.7% in 2018, indicating that the government still has diverse sources of revenue despite the cut in consumption-based taxes.

The f...

Govt's oil revenue share drops despite cut in consumption-based taxes

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German police have arrested an assistant to a European Parliament member on suspicion of "an especially severe case" of espionage for China, prosecutors said on Tuesday, appearing to refer to a staffer for the far-right Alternative for Germany.

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Global shares rose on Tuesday, driven by a recovery on Wall Street, where investor focus is pinned on earnings reports from the US megacaps, while the yen hit a new 34-year low against the dollar, prompting a warning from Japanese officials.

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<p>Indonesian President Joko Widodo and his son, incoming vice-president Gibran Rakabuming Raka, are no longer members of the country's largest party after they backed rival candidate and election winner Prabowo Subianto, a party official said on Tuesday.</p>


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<p>Global shares rose on Tuesday, driven by a recovery on Wall Street, where investor focus is pinned on earnings reports from the US megacaps, while the yen hit a new 34-year low against the dollar, prompting a warning from Japanese officials.</p>


<p>Swatch Group (M) Sdn Bhd&nbsp;said the seizure of its 172 rainbow-themed watches had caused much grief to its international reputation, as the renowned Swiss watch maker had always been dutiful citizens of any state where the watches were sold.</p>


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<p>ATX Semiconductor Group, a globally renowned semiconductor provider from China, intends to ramp up investment to US$200 million (RM952 million) for its new manufacturing plant in Melaka over the next five years for its second-phase business expansion.</p>


<p>Chinese universities and research institutes recently obtained high-end Nvidia artificial intelligence (AI) chips through resellers, despite the US widening a ban last year on the sale of such technology to China.</p>


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<p>Datin Seri Rosmah Mansor's appeal against her guilty conviction and sentence over all three counts of graft pertaining to the RM1.25 billion solar hybrid project for 369 rural schools in Sarawak will be heard in October.</p>


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<p>Malton Bhd has unveiled the final tower (Block B) of River Park, following the successful launch of its previous Tower A and Tower C blocks with more than 70% take-up rate.</p>


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<p>Moomoo Malaysia, an online trading platform, garnered 100,000 clients within six weeks of its launch, making it one of the most downloaded financial mobile applications in Malaysia.&nbsp;</p>


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<p>Bursa Malaysia opened higher on Tuesday, taking its cue from Wall Street’s better performance overnight, as sentiment improves after Iran said it will not escalate the conflict with Israel, said an analyst.</p>


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<p>The two helicopters which collided and crashed at the Royal Malaysian Navy (RMN) Base were undergoing a rehearsal for the third time in conjunction with RMN Fleet Open Day celebration scheduled on Saturday (April 27).</p>
