Windfall Profit Levy(Crude Palm Oil And Crude Palm Kernel Oil)
Order 2008
IN exercise of the powers conferred by section 6 of the Windfall Profit Levy Act 1998 (Act 592), the Minister makes the following order:
Citation and commencement
- This order may be cited as teh Windfall Profit Levy (Crude Palm Oil and Crude Palm Kernel Oil) Order 2008
- This Order comes into operation on 1 July 2008.
Interpretation
- In this Order, unless teh context otherwise requires:
- “crude palm kernel oil” means palm oil in crude form originating or extracted from the kernel of the oil palm fruit; and
- “crude palm oil” means palm oil in crude form originating or extracted from the pericarp of the oil palm fruit.
Prescribed goods
- The Minister prescribes crude palm oil and crude pam kernel oil as prescribed goods for purposes of the Act.
Determinantion of price
- The price of locally delivered crude palm oil and crude palm kernel oil per metric ton shall be based on the monthly national price published by the Malaysian Palm Oil Board.
Payment of levy
- Every producer shall pay to the proper officer of customs a windfall profit levy in respect of crude palm oil and crude palm kernel oil produced by him, based on the rate calculated as follows:
