Besides regular taxes, the palm oil industry has to pay cess, export duty and windfall taxes to the government and this money should be used to subsidise the price of cooking oil, says Teresa Kok.
Teresa Kok said that apart from collecting taxes at all levels of the industry, the government also imposes RM16 cess for every tonne of CPO. Kok said based on the data by the Malaysian Palm Oil Board the total export duty of CPO that should have been collected by the Malaysian Custom from January to May this year was about RM564,816,356.
Kok went on to say that it was time for the domestic trade and consumer affairs ministry to review the efficiency of the cooking oil subsidies system in the form of 1kg poly pack.
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