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Study impact of Sales and Services Tax : Planters
Published on: Friday, June 20, 2025
Published on: Fri, Jun 20, 2025 Text Size: Dr Charles also criticised the lack of stakeholder consultation in policy formulation. Kota Kinabalu: The government should first set up a special emergency team to study what will actually happen if they go ahead with the Sales and Services Tax (SST) instead of rushing into, said former Vice Chairman of the Incorporated Society of Planters Dr Charles Chow Kok Cheng. 'The government has a limited window to act with foresight and fairness. First, it should delay the SST expansion until an Emergency Taskforce comprising the Malaysian Palm Oil Board, industry bodies, economists and smallholder representatives can model the full fiscal and economic impact,' Chow said in his analysis of the policy changes.
Advertisement He said the SST expansion, which will take effect on July 1, imposes an additional 5 per cent tax on fresh fruit bunches, palm kernel oil, palm fatty acid distillates, empty fruit bunches and other palm-based derivatives. 'Combined with existing levies including a 15 per cent windfall profit tax and export duties of up to 8 per cent, the measures could eliminate up to 11 per cent of industry earnings,' he said. Subscribe or LOG IN to access this article.
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