Plantation and Commodities Ministry to look into windfall tax issue

KUALA LUMPUR: The Ministry of Plantation and Commodities is going to look into the issue of windfall profit levy raised by industry players and consult with relevant parties, said Minister Datuk Seri Johari Abdul Ghani.

The newly-appointed minister said that the windfall levy of 3.0 per cent is imposed on palm oil prices above RM3,000 per tonne in Peninsular Malaysia and above 3,500 ringgit per tonne in Sabah and Sarawak, however, industry players have raised their concerns as the cost has increased to almost RM3,000 per tonne.