Malaysian Palm Oil Association says windfall profit levy taxes are falling even on money-losing producers, stifiling investment

The Malaysian Palm Oil Association has appealed to the government to repeal the Windfall Profit Levy Act 1998, saying that the legislation represents double taxation on planters, and operates as a deterrent to direct foreign investment in the country as well as having a depressing effect on capital-raising opportunities through the stock market.

The MPOA said that some plantations which are facing high costs and low yields in Sarawak are paying taxes under the Windfall levy even though they are recording losses and not paying ordinary income taxes.

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