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The duty on crude palm oil was lowered to 40% from 44%, while a tax on the refined variety was cut to 50% from 54% after Indonesia and Malaysia, the top two palm oil producers in the Southeast Asia, sought a reduction in the import tax.Prior to that, India had raised the import tax on crude palm oil to 44% from 30% and hiked the tax on refined palm oil to 54% from 40% in March 2018.

Yes, the question is no longer “if” but rather “when” the Government of India will re-impose the taxes on Malaysian palm oil.When India hiked the tax on refined palm oil to 54% in March 2018, it was so damaging that the Najib administration had to appeal to India.The duty hike led to a slowdown in palm oil imports and for the first time in the history, the share of palm oils in the overall vegetable oils dropped to 40% from around 58%-70%.So, even after India slashed the taxes on palm oil products by 4% respectively in January this year (2019), it was still 10% higher compared to the rate in March 2018.Yet, when those small duties of 4% were cut, Malaysian exports to India jumped extraordinary by 727% – indicating the sensitivity and importance of tariffs on the commodities for Malaysia.

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