Posted by tylee81 > 2020-11-18 22:14 | Report Abuse

The windfall tax news come back again,syed saddid re-proposed it at budget21 today,what do u think?will it implement?

Posted by tradeview > 2020-11-18 23:35 | Report Abuse

Hi there, politics will always be politics. Playing to the gallery, issuing populist statement without considering repercussions are normal SOP for them. But I dont blame the politician, I think this is the fault of the research houses who plant such ludicrous policy thoughts in the minds of politicians. My view remains the same, I have said it before many times even though research houses like Maybank and Public Bank repeatedly brought the topic up, windfall tax cannot happen because the implementation is the issue. Ask any tax experts or legal experts, they will be able to share the the implementation of windfall tax are on commodities sector like palm oil or Oil & gas where it is a singular product. For gloves there are many classes & types of gloves which is hard to slap a blanket windfall tax across. Hence it is important to be technically sound before making public comments. Furthermore, unlike commodities sector like palm oil and oil and gas, glove makers do not receive direct subsidy from government. Hence it would be unconscionable to impose windfall tax. The budget 2021 tabled which highlighted donation to Covid-19 fund is the best approach to address the implementation issue of windfall tax.