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KUALA LUMPUR: The government should introduce a “windfall tax” to companies that made windfall profits during the Covid-19 pandemic, says Muar MP Syed Saddiq Syed Abdul Rahman.
He said that several glove companies had raised billions of ringgit this year following high global demand due to the pandemic.
He added that they should be subject to a windfall tax that could be funneled into purchasing Covid-19 vaccines and helping those at the forefront.
“My proposal is for the government to introduce a windfall tax on rubber glove companies in Malaysia that have enjoyed windfall profits in the Covid-19 season.
“We don’t want to punish companies, but they have made extraordinary profits when others are suffering,” he said while debating the 2021 budget at Dewan Rakyat here on Wednesday (November 18).
Syed Saddiq said the government should be brave enough to introduce a fair tax system for the benefit of the people.
“Don’t let the rich get richer and the poor stay poor,” he said.
The former Minister of Youth and Sports said that the government had received RM400,000 in the form of items donated by these companies.
During the presentation of the 2021 Budget, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said that the contribution would help cover the cost of Covid-19 vaccines, as well as health equipment expenses.
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