PROCEDURE ON WINDFALL TAX

1. LICENSE APPLICATION

a. Manual application for Windfall Tax License can be made with 3 copies of JKED No.1 at the customs office nearest to the business.

b. Documents necessary for license application are as follows;

i. Official letter of application
ii. Authorisation letter to person appointed to deal with Royal Malaysian Customs Department.
iii. Company’s registration documents issued by SSM
iv. Memorandum & Articles of Association
v. Copy of identity card / passport
vi. Passport-sized photographs of the applicant
vii. Location plan
viii. A letter from the Malaysian Palm Oil Board (MPOB)

2. LEVY FEE

a. Payment must be made using form WPA No.3 within 14 days of the following month at the customs office where license is registered.

b. Levy charged is at a rate of 3% on palm oil prices above RM2,500 / tonne in Peninsular Malaysia and at a rate of 1.5% on palm oil price above RM3000 / tonne in Sabah & Sarawak