Windfall tax on glove makers will send wrong signal to investors: Zafrul

Tengku Zafrul expressed optimism that Malaysia's 2021 gross domestic product (GDP) would grow within the range of 6.5 per cent to 7.5 per cent as projected by the government.

KUALA LUMPUR: The implementation of a windfall tax on glove companies that have benefited from the pandemic is a non-consistent policy which will a send a wrong signal to investors and shoo them away from investing in the country, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said should the windfall tax be imposed, it would make investors think twice before investing in the country, or even opt to invest in the neighbouring countries like Vietnam and Singapore which do not impose such taxes.