Port businesses badly hit by uncertainty over commingled oil tax – maritime expert
UNCERTAINTY over the tax treatment of oil cargo that is commingled in shore tanks at Johor’s Tanjung Langsat Port is badly affecting businesses involved in the shipping and petroleum sectors. Maritime Network Sdn Bhd chief executive officer Datuk Ser...
Oil cargo commingling at Johor’s Tanjung Langsat Port is causing significant uncertainty and financial strain for businesses in the shipping and petroleum sectors, according to maritime expert Datuk Seri Jeyenderan Ramasamy. The Royal Malaysian Customs Department must urgently provide clear guidance on whether commingling is permissible and how cargo should be classified, documented, and assessed for tax purposes.
Without this clarity, businesses risk facing additional costs, disputes with authorities, and operational disruptions. Jeyenderan emphasizes the need for customs to establish clear requirements for documentation, cargo classification, valuation, and tax assessment to prevent confusion and financial exposure.
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