# DPM Fadillah: Industry players want govt to review windfall profit levy price for Sabah, Sarawak | Malay Mail

> Malaysia's plantations ministry has proposed cutting the windfall profit levy for Sabah and Sarawak from 3.0% to 1.5% in Budget 2024. The Malaysian Palm Oil Association had separately asked the government to raise the levy price thresholds by RM500 per ton and requested tax incentives.

- Date: 2023-10-03 · published 2023-10-03T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/15698-dpm-fadillah-industry-players-want-govt-to-review-windfall-profit-levy-price
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The proposed rate cut would be a modest tax reduction for planters in Sabah and Sarawak, while the industry is seeking higher thresholds. The outcome depends on Budget 2024 and has no immediate effect on prices.

## Read by commodity

- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-09-18 | [Malaysia reviewing windfall tax on palm oil industry  - The Business Times](https://feedsoft.ai/events/15705-malaysia-reviewing-windfall-tax-on-palm-oil-industry-the-business-times.md) | -1.6% | -4.3% |
| PALMOIL | 2023-03-30 | [Plantation Ministry: No plan to regulate price of Malaysian palm oil as govt-controlled product  \| Malay Mail](https://feedsoft.ai/events/36958-plantation-ministry-no-plan-to-regulate-price-of-malaysian-palm-oil-as-govt.md) | -1.1% | -4.0% |
| PALMOIL | 2023-04-04 | [BERNAMA - CONSIDER RISING COST OF CPO PRODUCTION WHEN REVIEWING WINDFALL PROFIT LEVY - MPOA](https://feedsoft.ai/events/15740-bernama-consider-rising-cost-of-cpo-production-when-reviewing-windfall-profit.md) | -0.5% | -12.2% |
| PALMOIL | 2023-10-27 | [Malaysia will not remove windfall tax on palm industry: state media - The Business Times](https://feedsoft.ai/events/15697-malaysia-will-not-remove-windfall-tax-on-palm-industry-state-media-the-business.md) | +2.3% | +5.6% |
| PALMOIL | 2022-07-19 | [Wee: Govt will monitor developments in palm oil industry](https://feedsoft.ai/events/15810-wee-govt-will-monitor-developments-in-palm-oil-industry.md) | -2.7% | +1.9% |

## Sources

- malaymail.com: https://www.malaymail.com/news/malaysia/2023/10/03/dpm-fadillah-industry-players-want-govt-to-review-windfall-profit-levy-price-for-sabah-sarawak/94186

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.