According to Malaysian Plantation Association (MPOA) chief executive officer Datuk Nageeb Wahab, (pic) the association has proposed to the government to consider for a new palm oil WPT threshold – to be raised to RM3,000 per tonne from the current RM2,500 per tonne – for planters in Peninsular Malaysia.
PETALING JAYA: Planters are seeking a full review of the current palm oil windfall profit tax (WPT) and its export duty under Budget 2021.
The long-standing palm oil WPT has remained unchanged since its last revision in 2009, while the palm oil export duty was revised in January this year.
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