SANDAKAN: The Finance Ministry has agreed to place a tax-free exemption on the export duty on crude palm oil from May 1 until Dec 31, says Primary Industries Minister Teresa Kok. Speaking to reporters when met after the Dialog on Palm Oil farmers at the Sandakan Hotel on Tuesday (April 30), Kok said that the move is expected to encourage palm oil exports abroad. "It will be easier and more convenient for whoever wants to export more crude palm oil overseas. At the same time, Kok said African countries, nations in the Middle East and Russia were interested in buying Malaysian crude palm oil. I hope we will be able export crude palm oil in this period with the 4.5% tax exemption,” she addedKok said that palm oil producers have complained about the lack of foreign workers and taxes from the government during the dialog.

Source: The Star May 01, 2019 04:18 UTC