Expectations of better performance by companies will see income tax – a major contributor to direct tax and total revenue – to rebound by 8.8% to RM64.6bil, according to the report.
KUALA LUMPUR: Federal Government revenue is expected to increase by 4.2% to RM236.9bil or 15.1% of GDP in 2021 underpinned by improving economic growth and business prospects.
According to the Fiscal Outlook report, the government expects tax revenue to increase by 13.8% to RM174.4bil due to higher direct tax and indirect tax collections.
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