No plans for windfall tax in the books, says Deputy Finance Minister

  • 📰 staronline
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

KUALA LUMPUR: There are no plans to impose a windfall tax on companies making extraordinary profits, says Deputy Finance Minister I Mohd Shahar Abdullah.

"We will not impose a windfall tax on the companies such as rubber gloves manufacturers, namely Top Glove which was specifically mentioned by several MPs.

Datuk Seri Ahmad Maslan noted that rubber glove manufacturer Top Glove enjoyed an 11-fold increase in profits during the pandemic period.Under Budget 2021, four leading rubber glove manufacturers in the country made contributions of RM400mil towards efforts to combat the Covid-19 pandemic. Mohd Shahar said the RM400mil was allocated to the disaster relief fund account and it was used to support the public health care systems, such as purchasing medical equipment, medicine, tests, lab tests, chemical sanitation and among others.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines