IRB slaps Aeon Credit with RM97mil additional tax bill

During the quarter in review, the consumer financing provider saw revenue growing 11.4% to RM312.3mil. The company

KUALA LUMPUR: Aeon Credit Service Bhd said it had been served with notices of additional assessment and penalties totalling almost RM97mil from the taxman.

The additional tax bill goes back seven years to the assessment year 2010.

“The company has appointed tax solicitors and is initiating proceedings to challenge the validity and legality of the said notices of additional assessment,” the company told Bursa Malaysia on Wednesday.

Aeon Credit said there are “reasonable grounds” to challenge the validity of the additional assessment raised by the director general of Inland Revenue and the penalties imposed. 

It added that the company had sought professional advice from an independent and reputable audit and tax firms on its accounting and tax treatment.