KUALA LUMPUR, Aug 13 — The Transport Ministry will seek clarification from the Finance Ministry over concerns surrounding the tax treatment of commingled oil cargo, Transport Minister Anthony Loke Siew Fook said today.
Loke said his ministry had yet to be informed of any new taxation involving such cargo, adding that the matter falls under the purview of the Royal Malaysian Customs Department and the Finance Ministry.
“This is something which is under Customs and under MOF. We will seek further clarification from MOF,” he told reporters after the Transport Ministry’s monthly assembly here today.
Loke was responding to concerns raised by maritime industry players over uncertainty surrounding the tax treatment of commingled oil cargo at Malaysian ports.
The issue has raised concerns among port businesses, with a maritime expert warning that uncertainty over the tax treatment could affect companies handling such cargo.
Commingling refers to the storage of different oil consignments together in the same shore tank before they are subsequently transferred or exported.
