IRB files appeal against TNB’s RM1.81bil tax claim

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has been notified of an appeal filed by the Inland Revenue Board (IRB) over the RM1.81bil tax claim for the year of assessment 2018 against the former.

In a filing with Bursa Malaysia, TNB said the Court of Appeal had fixed case management on March 28, 2022.

Last week, the High Court allowed with cost TNB's judicial review application to set aside the IRB’s notice of additional assessment of RM1.81bil dated July 13, 2020 for the year of assessment 2018.

"The High Court agreed with the submission of TNB’s legal counsel that TNB is in the business of manufacturing electricity.

"As such, TNB is entitled to claim reinvestment allowance on the capital expenditure which was incurred in the year of assessment of 2018 in the course of expanding, modernising and automating its business,” TNB said.