Govt To Study MPOOA’s Request For Higher Threshold Price For Windfall Tax
KUALA LUMPUR, June 30 (Bernama) — The Ministry of Plantation Industries and Commodities will study a memorandum from the Malaysian Palm Oil Owners Association (MPOOA) requesting the government to increase the threshold price for windfall tax, currently at RM2,000 per tonne.
Its minister, Datuk Peter Chin Fah Kui, said he has received the memo from the association which included their views on the threshold price.
The government will impose windfall tax on oil palm companies starting July 1.
Under the proposed windfall tax framework, palm oil producers in Peninsular Malaysia would be taxed 15 percent and 7.5 percent for Sabah and
“We are looking at various aspects of what these people are telling us. We will see how it can be implemented in a fairer manner,” he told reporters after the launch of Sealink International Bhd’s initial public offering prospectus here Monday.
Chin said he had promised the association he would study the points raised in the memo.
“But we have to study first, the Malaysian Palm Oil Board has to look first at what they are saying and of course we have to consult with the Treasury before we can come out with an opinion either to support or not.
“So at this juncture, it is premature for me to bring anything to the cabinet (now),” he said.
Earlier in his speech, Chin praised Sealink International Bhd, a Sarawak-based company for achieving the milestone of listing on
“I am pleased to note that the company, which started from merely having only one vessel 30 years ago, is today internationally recognised for its quality of marine vessels and services, especially in the marine support services for the thriving oil and gas industry,” he said.
– BERNAMA
