CPO windfall profit tax could be subject to review

The palm oil windfall profit tax (WPT) which has been the major cause of contention among many plantation companies could be subjected for a review soon, a source close to the industry said.

The source said plantation companies especially those undertaking new planting and replanting that incurred losses in the initial six years of operations have expressed their discomfort over the WPT when “most of them have not even started paying for corporate tax or break even but were forced to pay for the WPT.”