No windfall tax on companies that enjoy tax breaks, says Tengku Zafrul - Printable Version +- Ipoh Community Forums (https://forums.ipoh.com.my) +-- Forum: News and Current Affairs (https://forums.ipoh.com.my/forum-11.html) +--- Forum: Local News (https://forums.ipoh.com.my/forum-12.html) +---- Forum: Business. Economy and Investment (https://forums.ipoh.com.my/forum-60.html) +---- Thread: No windfall tax on companies that enjoy tax breaks, says Tengku Zafrul (/thread-3987.html)

No windfall tax on companies that enjoy tax breaks, says Tengku Zafrul - superadmin - 11-24-2021 KUALA LUMPUR: Finance minister Tengku Zafrul Aziz has shot down a proposal by Bersatu MP Mohd Redzuan Md Yusof to impose a windfall tax on companies that enjoy tax incentives, saying it will hurt investments. Redzuan (PN-Alor Gajah) made the proposal in the Dewan Rakyat when he interjected the finance minister during his winding-up speech on the Supply Bill 2022 at the committee stage today. He argued that the windfall tax should be imposed on multinational and pioneer companies that enjoy 12-year tax breaks and make more than RM100 million, as well as those in the palm oil, banking and rubber glove sectors. Tengku Zafrul replied: “Your proposal will impact our investments. The intention of the ‘cukai makmur’ (prosperity or windfall tax) is to create revenue to strengthen our public healthcare system and guarantee the well-being of people badly affected by the pandemic.” - More -