RM325mil export duty exemption used by oil palm
10.12.2020 (www.thestar.com.my) - PETALING JAYA: The value of export duty exemption that has been successfully utilised by the national oil palm industry amounted to RM325.2mil as at Nov 27,2020, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
“Among the benefits of this tax measure is that this will directly help smallholders ease selling of their produce to factories, ” Tengku Zafrul said in the 32nd Laksana report on the implementation of the Prihatin Rakyat Economic Stimulus Package, the National Economic Recovery Plan and the Kita Prihatin Economic Stimulus Package released yesterday.
The government has introduced the export duty exemption of up to 100% on palm oil-based industries to stimulate the growth of the country’s commodity sector and export value.
Meanwhile, the value of the service tax exemption that has been utilised by the hotel operators of the accommodation premises had reached a value of RM836.6mil as at Nov 27, an increase from RM727.4mil last week.
As a measure to ensure that the tourism and hospitality sector can recover, the government had agreed to extend the service tax exemption on accommodation services between Sept 1,2020 and June 30,2021, he said. — Bernama