Federal Court rules in favour of IRB in tax appeal against TNB

The Inland Revenue Board logo seen at its branch in Damansara Perdana. - AZHAR MAHFOF/The Star

KUALA LUMPUR: The Federal Court today allowed the Inland Revenue Board’s (IRB) appeal to reinstate an additional tax assessment of RM1.25bil against Tenaga Nasional Bhd (TNB) for the 2018 assessment year, following a penalty remission from the original RM1.8bil notice.

In a filing with Bursa Malaysia, the utility giant said the Federal Court allowed the IRB’s appeal against earlier decisions by the High Court and Court of Appeal, which had favoured TNB’s judicial review to set aside the tax notice.