Teresa Kok: Palm oil export duty tax-exemption from today until Dec 31

Speaking to reporters when met after the Dialog on Palm Oil farmers at the Sandakan Hotel on Tuesday , Kok said that the move is expected to encourage palm oil exports abroad.

"It will be easier and more convenient for whoever wants to export more crude palm oil overseas. Some some were worried that when the price reaches RM2,250, they will have to pay a tax of 4.5%," said KokAt the same time, Kok said African countries, nations in the Middle East and Russia were interested in buying Malaysian crude palm oil.

“All this needs more time. I hope we will be able export crude palm oil in this period with the 4.5% tax exemption,” she added Kok said that palm oil producers have complained about the lack of foreign workers and taxes from the government during the dialog. “I told them to do their best in improving this industry because we need to find more good stories to be highlighted in the international market so Malaysian palm oil can be labelled as a five-star oil,” said Kok.

This painted how this PH government success ? They could not sale their oil stocks ?

That bad huh

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Govt defers crude palm oil export duty until Dec 31 | Malay MailSANDAKAN, May 1 — Malaysia has deferred its export duty on crude palm oil until December 31 this year, Primary Industries Minister Teresa Kok Suh Sim said. She said the deferment period from May 1 would enable the country to promote palm oil exports, as well as to seek new markets....
Source: malaymail - 🏆 1. / 86 Read more »