Windfall profit levy gives short-term gain, but sends wrong signal - FMM

KUALA LUMPUR (Bernama) - The windfall profit levy on companies is likely to give short-term gains to the country but could be detrimental in the long term and will send the wrong signal to both local and foreign investors, said the Federation of Malaysian Manufacturers (FMM).

Its president Tan Sri Soh Thian Lai said Malaysia has been facing stiff competition from neighbouring countries in terms of its attractiveness as an investment location of choice, especially during the pandemic.