"Based on 2019 production numbers and assuming CPO price sustains at RM3,200 per tonne, MEOA expects these taxes could balloon to RM 2.8bil a year,” it said.
KUALA LUMPUR: The Malaysian Estate Owners’ Association (MEOA) wants the government to either suspend or abolish the unfair taxes on the oil palm industry.
In a late statement issued on Monday, it cited the Windfall Profit Levy (WPL) on crude palm oil (CPO); 7.5% sales taxes in Sabah on sales of CPO; and 5% sales taxes in Sarawak on sales of CPO and crude palm kernel oil (CPKO).
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
