Such a tax would require levying profits that exceed a certain threshold, he said in a written parliamentary reply.

He also said it would be difficult for the government to determine a uniform market price for consumer goods or locally manufactured products given the varied types, standards, specifications and grades.

Tengku Zafrul was responding to opposition MP Syed Saddiq Syed Abdul Rahman, who had asked that the government commit to studying such a tax to help fund the nation’s recovery.

The former minister had highlighted glove makers in his question to Tengku Zafrul.

“Although not subject to the windfall profit levy, the rubber gloves manufacturing industry contributed to spillover effects to the national economy in terms of direct and indirect taxes, in particular increased corporate income tax, while providing job opportunities throughout the Covid-19 crisis,” said Tengku Zafrul.

“The additional profit earned by the rubber gloves industry during the pandemic can also be used by the industry to reinvest and encourage investors to further expand their business in this country,” he added.