ISKANDAR PUTERI (Feb 27): The Johor Bahru Tengah Municipal Council (MPJBT) expects to receive tax revenues of at least RM50 million per year from the Forest City here upon its completion.
Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin said the revenues would be derived from quit rents or property tax.
“Johor has no oil [industry] but when we have such development, it can bring additional revenue to the state every year that can be channelled back to the people,” he said.
He said through MPJBT’s collection, the state government could provide various facilities, including halls, recreational parks and shoplots for traders.
This article first appeared in The Edge Financial Daily, on Feb 27, 2017.