PETALING JAYA: Kumpulan Perangsang Selangor Bhd
(KPS), which is controlled by the Selangor state government, is appealing against the RM7.89mil capital gains tax (CGT) assessment and non-filing penalty imposed by the Inland Revenue Board (IRB).
Pursuant to the divestment of a 50% stake in Kaiserkorp Corp Sdn Bhd that holds the licence for King Koil mattresses, the IRB requires KPS’s unit Bold Approach Sdn Bhd or BASB to pay a 2% CGT valued at RM5.44mil.
