Consider rising cost of CPO production when reviewing windfall profit levy: MPOA

Malaysian Palm Oil Association (MPOA) chief executive Joseph Tek. - AZLINA ABDULLAH/The Star

KUALA LUMPUR: The Malaysian Palm Oil Association (MPOA) has urged the government to take into consideration the rising cost of production of crude palm oil (CPO) when determining the revised price of the windfall profit levy.

Chief executive Joseph Tek said the association also requested that the government review the doubling of the levy rate calculation to three per cent from 1.5 per cent for Sabah and Sarawak, which was imposed in 2022, considering (that there is) the State Sales Taxes (SST) of five per cent and 7.5 per cent on CPO for both states.