Tenaga slapped with RM3.98b additional taxes from IRB

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KUALA LUMPUR: Tenaga Nasional Bhd said yesterday it had received notices of additional assessments from the Inland Revenue Board that amounted to RM3.98 billion for the years of assessment 2015 to 2017.

The additional assessments comprised RM1.43 billion for 2015, RM1.25 billion for 2016 and RM1.3 billion for 2017.

“Based on the legal advice obtained from our tax solicitors, Tenaga Nasional Berhad has good basis to contend that there is no legal and factual basis for the Inland Revenue Board to issue the said notices,” it said in a stock exchange filing.

“Accordingly, Tenaga Nasional Berhad will be appealing against the said notices,” it added.

Tenaga shares closed 16 sen or 1.18% higher at RM13.72 today, giving the national utility group a market capitalisation of RM78.02 billion. The stock price is little changed from 12 months ago.