Aeon Credit receives writ of summons from govt

  • Business
  • Wednesday, 10 Jul 2019

PETALING JAYA: AEON Credit Service (M) Bhd has received a writ of summons together with a statement of claim filed by the government in respect of the taxes that are purportedly due for the years of assessment 2010 to 2016.

In a filing with Bursa Malaysia, Aeon Credit, a non-bank financial services provider, said the matter had been fixed for case management at the High Court on July 23, 2019.

“Upon consulting its tax solicitors, the company maintains its stance that there is a good basis in law to challenge the validity of the taxes and penalties demanded by the director-general of the Inland Revenue Board and also the civil proceedings commenced against the company.

“This is especially when at all material times, the company had sought professional advice from an independent and reputable firm of tax consultants on its tax treatment and that the notices of additional assessment for the years of assessment 2010 and 2011 are time barred,” it said.

Aeon Credit shares rose eight sen to RM16.78 yesterday.

Aeon Credit posted an 18.2% rise in net profit to RM354.6mil for the financial year ended Feb 28, 2019. Revenue grew 10.6% to RM1.37bil from RM1.24bil.

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