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Maxis Broadband loses bid on RM211.7 mil additional tax, penalty review | Scoop
Maxis Bhd has said that the high court has dismissed the application for a judicial review on three IRB notices of additional tax assessment with penalties amounting to RM211.7 million submitted by its subsidiary Maxis Broadband. – Wikipedia pic, November 27, 2023
News

Maxis Broadband loses bid on RM211.7 mil additional tax, penalty review

Company will file appeal challenging dismissal at appellate court, along with application for stay of enforcement of three IRB notices

Scoop Reporters
Updated
9:04 PM MYT

 

KUALA LUMPUR – Maxis Broadband Sdn Bhd has lost its bid to commence a judicial review on three Inland Revenue Board notices of additional tax assessment with penalties amounting to RM211.7 million.

In a bourse filing today, Maxis Bhd said the high court dismissed the application for a judicial review submitted by its subsidiary Maxis Broadband.

“We refer to the issuance of notices of additional assessment with penalties for the years of assessment 2016 and 2017 totaling RM140 million, notice of additional assessment with penalty for the year of assessment 2021 totaling RM71.7 million and our announcements dated November 20, 2020 and April 20, 2023, respectively.”

Maxis added that an appeal against the high court’s decision will be filed at the Court of Appeal along with an application for a stay of enforcement of the three notices pending the disposal of the appeal.

In September this year, the high court granted Maxis Broadband leave for judicial review on a RM104 million penalty for its 2022 tax assessment. 

On March 31, 2021, Maxis Broadband was also slapped with an additional assessment notice of RM230 million for years of assessment 2018 and 2019. 

These brought the total additional assessment from 2016 to 2022 to RM545.7 million, which the subsidiary is challenging in court.

Maxis’ shares finished two sen or 0.5% lower at RM3.95 with a market capitalisation of RM30.94 billion. – November 27, 2023

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