5/4/2021 Bernama - Govt Has No Plans To Levy Windfall Profit Tax On Rubber Glove Companies Hot Topics Touchpoints Budget 2021 Bahasa Malaysia A+ A A- Menu Home Gallery Activities News Bernama - Govt Has No Plans To Levy Windfall Prot Tax On Rubber Glove Companies Wednesday, Dec 23 2020 wwwold.treasury.gov.my/index.php/en/gallery-activities/news/item/7569-bernama-govt-has-no-plans-to-levy-windfall-profit-tax-on-rubber-glove-companies.html 1/3 5/4/2021 Bernama - Govt Has No Plans To Levy Windfall Profit Tax On Rubber Glove Companies MOF KUALA LUMPUR, Dec 23 - The government has no plans to impose a Services windfall prot levy on rubber glove manufacturers that are enjoying supernormal prots from the higher demand and selling price of rubber Online BUSINESS gloves worldwide nor to other businesses that have proted greatly due Services to the COVID-19 pandemic, according to the Ministry of Finance (MoF). AGENCY MOF STAFF Mobile Deputy Finance Minister II Mohd Shahar Abdullah said that introducing a MOF STAFF Application windfall prot levy could give a negative perception to investors that the government is taking advantage of the supernormal prots generated by Microsite companies following the global health crisis. “The windfall prot tax is only presently levied on the palm oil e- commodity based on the monthly market price threshold of crude palm Participation oil issued by the Malaysian Palm Oil Board. & Feedback "The windfall prot tax has never been imposed on consumer nished goods or local manufactured goods such as rubber gloves because it is Statistics & dicult to determine a uniform market price threshold, given that Performance rubber glove products have dierent types, standards, specications and grades according to the respective countries marketed," he said at the Links Dewan Negara today. Mohd Shahar said this in response to a question from Senator Agency Balasubramaniam Nachiappan who wanted to know whether the government would introduce a windfall prot levy, especially to Contact corporates that had made supernormal prots during the pandemic Us such as Top Glove and others, that will benet the country and society. Ministry of Mohd Shahar said although the windfall prot tax was not levied, the Finance Malaysia rubber glove manufacturing industry also contributed to the spillover No. 5 Persiaran eect on the national economy in terms of direct and indirect taxes, Perdana Presint 2, wwwold.treasury.gov.my/index.php/en/gallery-activities/news/item/7569-bernama-govt-has-no-plans-to-levy-windfall-profit-tax-on-rubber-glove-companies.html 2/3 5/4/2021 Bernama - Govt Has No Plans To Levy Windfall Profit Tax On Rubber Glove Companies especially the company's increasing income tax, as well as continuing to Federal provide jobs during the COVID-19 crisis. Government Administrative "Besides that, as announced in Budget 2021, major glove manufacturers Centre, will also contribute RM400 million for the purpose of combating COVID- 62592 WP 19, including covering part of the cost of the vaccine and the cost of PUTRAJAYA health equipment peripherals,” he said. 03-8000 8000 -- BERNAMA 03-88823893 / 03-88823894 Privacy Policy | Security Policy | Disclaimer | Site Map | Help | Archives | Poll © Copyright Reserved 2020 Ministry of Finance Malaysia. Last Updated: 4 May 2021 | Total Visitor: 27637216 JOOMLA! DEBUG CONSOLE Session Prole Information Memory Usage Database Queries wwwold.treasury.gov.my/index.php/en/gallery-activities/news/item/7569-bernama-govt-has-no-plans-to-levy-windfall-profit-tax-on-rubber-glove-companies.html 3/3.