Sst Revenue For 2024 Surpasses Target Reaching Rm44 7bil

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The finance ministry also reported that excise duty on sugary drinks generated RM447.5 million from 2019 to 2024.
PETALING JAYA: The finance ministry expects sales and service tax (SST) revenue for 2024 to reach RM44.7 billion, exceeding the initial target of RM41.3 billion.
“The final amount will be confirmed in the federal government’s financial statement for 2024,” the ministry said in a written parliamentary reply to Chong Zhemin (PH-Kampar), who inquired about the total SST collected last year and its comparison to the initial projections.
In a separate update, the ministry reported that the total excise duty collected on sugary drinks from 2019 to 2024 amounted to RM447.5 million.
“The revenue generated will fund public health expenses, including increasing the supply of SGLT-2 inhibitors for diabetes treatment and peritoneal dialysis for end-stage kidney disease patients,” it said in a written parliamentary reply to Chow Kon Yeow (PH-Batu Kawan).
Chow had asked about the total excise duty revenue from sugary drinks since the policy’s introduction and how much has been allocated for health-related purposes, particularly in the fight against diabetes.
The ministry also said the government allocated RM45.27 billion to the health ministry for 2025 to fund health programmes, including diabetes and obesity prevention.
Tabling the 2025 budget in October last year, Prime Minister Anwar Ibrahim announced an increase in excise duty on sugary drinks by RM0.40 per litre beginning in January.
In 2019, the government levied an excise duty of RM0.40 per litre on all ready-to-drink packaged beverages that contain more than 5g of sugar per 100ml. The tax was raised to RM0.50 last year. - FMT

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