IRB tells Cocoaland to pay additional tax and penalty

Products made by Cocoaland

PETALING JAYA: Cocoaland Holdings Bhd’s unit will have to pay a total of RM5.89mil in additional income tax and penalty for the years of assessment 2010 to 2014.

In a filing with Bursa Malaysia, the food and beverage manufacturer said its wholly owned subsidiary – Cocoaland Industry Sdn Bhd – had been instructed by the Inland Revenue Board (IRB) to pay an additional income tax of RM4.06mil and a 45% penalty of RM1.83mil in a letter dated Oct 19, 2017.