IRB slaps UEM Edgenta with extra RM18.7mil tax bill

KUALA LUMPUR (Bernama) -- The Inland Revenue Board has slapped UEM Edgenta Bhd with an additional income tax with penalty of RM18.7mil for the years of assessment 2015 to 2018.

In a filing with Bursa Malaysia today, the company said it was served with the notices of additional assessment with penalty mainly following a dispute on the status of UEM Edgenta as a management services company, which would be taxed as an investment holding company under Section 60FA of the Income Tax Act 1967.