KUALA LUMPUR: The government expects RM50 billion in revenue over the next 20 years from the proposed petroleum tax incentives, Datuk Seri Najib Razak said.
The Prime Minister said the revenue would be generated from the new plan of tax incentives led by Petroliam Nasional Bhd, which would be included in Petroleum Income Tax Act.
'To increase petroleum production, we've endorsed five significant new tax incentives for development of new & hard to reach oil sources,' he said on Tuesday, Nov 30.
He also announced nine developments, entry point projects under Economic Transformation Plan (ETP), of which three would focus on oil, gas and energy industry.
The Prime Minister said the revenue would be generated from the new plan of tax incentives led by Petroliam Nasional Bhd, which would be included in Petroleum Income Tax Act.
'To increase petroleum production, we've endorsed five significant new tax incentives for development of new & hard to reach oil sources,' he said on Tuesday, Nov 30.
He also announced nine developments, entry point projects under Economic Transformation Plan (ETP), of which three would focus on oil, gas and energy industry.
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