KUALA LUMPUR: Maxis Bhd said its wholly owned Maxis Broadband Sdn Bhd (MBSB) was served with notices of additional assessment with penalties totaling RM140mil by the Inland Revenue Board.
The notices were for the year of assessment 2016 and 2017, Maxis said in a filing with Bursa Malaysia today.
"The said notices of additional assessment were raised mainly pursuant to the disallowance of MBSB’s deduction of interest expenses incurred during the said years of assessment," it said.
"Based on legal advice obtained, MBSB will initiate legal proceedings to challenge the basis and validity of the disputed notices of additional assessment raised by the director general of Inland Revenue and the penalty imposed," it added.
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