Sime Darby to appeal RM150.18mil tax assessments
Sime Darby Holdings Bhd says it believes it has valid legal grounds to defend against the assessments.
Sime Darby Bhd's wholly-owned subsidiary, Sime Darby Holdings Bhd, has announced its intention to appeal a tax assessment totaling RM150.18 million, issued by the Inland Revenue Board (LHDN) for the years 2017 to 2023. The assessment was received by SDHB on September 30, 2023, after the LHDN determined that interest income from the company's treasury activities was taxable under Section 4(c) of the Income Tax Act 1967.
The company's legal team has advised that SDHB has valid legal grounds to contest the assessment. SDHB has been given 30 days to file an appeal, and the company plans to initiate legal proceedings to challenge the validity of the LHDN's assessment. Further announcements will be made if there are any significant developments in the matter.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Sime Darby to appeal RM150.18mil tax assessments freemalaysiatoday.com
- Sime Darby to appeal RM150.18mil tax assessments nst.com.my
