TNB tax claim will not lead to higher electricity tariffs, says Finance Ministry
KUALA LUMPUR: The additional tax claim against Tenaga Nasional Bhd (TNB) will not result in costs being passed on to consumers through electricity tariff hikes, says the Finance Ministry.
KUALA LUMPUR: The Finance Ministry has reassured the public that an additional tax claim against Tenaga Nasional Bhd (TNB) will not lead to higher electricity tariffs for consumers. According to the ministry, the Incentive-Based Regulation (IBR) framework governs electricity tariffs in Peninsular Malaysia, ensuring that tariff adjustments are subject to government review and approval.
The ministry clarified that TNB's corporate tax liabilities do not automatically translate to increased costs for consumers through their electricity bills. The additional tax claim does not impact TNB's capacity to pay dividends, which is contingent upon the company's financial performance, cash reserves, and dividend policy. The government remains committed to safeguarding consumer interests through existing tariff regulation mechanisms, all while ensuring that TNB can maintain a safe and reliable electricity supply.
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