Over RM26 Bln Collected In Duties On Vehicles And Spare Parts For 2022-2024
KUALA LUMPUR, Nov 12 (Bernama) -- The total collection of import and excise duties on motor vehicles and motor vehicle spare parts for the period 2022 to 2024 amounted to RM26.47 billion, according to the Ministry of Finance (MOF).
In a written reply published on the Dewan Rakyat portal, the ministry said that of the total amount, RM25.15 billion came from import and excise duties on motor vehicles, while RM1.32 billion was collected from duties on motor vehicle spare parts.
“Import and excise duties are indirect tax revenues collected by the Customs Department under the provisions of the Customs Act 1967 and the Excise Act 1976.
The revenue collected is channelled into the Consolidated Fund and used to finance various government development programmes, projects, and operating expenditures,” said the MOF.
The ministry was responding to a question from Salamiah Mohd Nor (PN-Temerloh) regarding the total collection of road tax, import tax, and excise duties on motor vehicles from 2022 to 2024.
The MOF also stated that, based on information received from the Road Transport Department (RTD), the total collection of Motor Vehicle Licence fees for the period 2022 to 2024 amounted to RM9.83 billion.
-- BERNAMA