This article first appeared in The Edge Financial Daily on February 15, 2019

KUALA LUMPUR: The High Court yesterday fixed May 30 to hear Genting Malaysia Bhd’s application for a judicial review of a government decision on the tax incentives granted for the group’s RM10.38 billion Genting Integrated Tourism Plan (GITP) redevelopment project.

The date was fixed during case management in chambers before judge Azizah Nawawi. Present were senior federal counsel Natassa Zaini, who represents the ministry of finance (MoF), and Genting Malaysia’s lawyer Keith Lim Boon Long.

MoF in December 2014 approved Genting Malaysia’s tax incentives application for GITP, which entitled the group to claim income tax exemption equivalent to 100% of qualifying capital expenditure incurred for a period of 10 years.

However, MoF subsequently amended the tax incentives approval in December 2017. While the amendment did not remove the tax incentives previously granted, it effectively prolonged the utilisation period of the tax allowances “significantly”, according to Genting Malaysia.

The group submitted an appeal to MoF but it was turned down in September last year.

Last month, Genting Malaysia told Bursa Malaysia that it was filing an application for a judicial review of the MoF decision to amend the tax incentives approval.

The High Court also granted a stay on MoF’s decision pending the disposal of the judicial review application.