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Sabah move to change the formula on collecting sal
calendar31-10-2002 | linkNULL | Share This Post:

KOTA KINABALU, Oct 28: Debating the State Budget for 2003, Datuk DrMaximus Ongkili (BN-Tandek), in debating the Budget, welcomed theGovernment's move to change the formula on collecting sales tax on crudepalm oil from Jan 1 next year.

"Eight per cent of oil palm companies in Sabah are not local ones and donot employ many locals. It is only fair that they contribute more in salestax as they are charged premium on land," he said.

Finance Minister Datuk Musa Aman said last week that the existing salestax formula for crude palm oil would be revised from RM50 per metric tonneto a new formula based on five per cent of sales value