EDGENTA

0.975

+0.025 (+2.6%)

OTHERS UEM Edgenta Berhad ("UEM Edgenta" or "the Company") - Notices of Additional Assessment raised by the Director General of Inland Revenue ("DGIR")

UEM EDGENTA BERHAD

Type Announcement
Subject OTHERS
Description
UEM Edgenta Berhad ("UEM Edgenta" or "the Company") - Notices of Additional Assessment raised by the Director General of Inland Revenue ("DGIR")

UEM Edgenta wishes to announce that on 30 April 2021, the Company has received Notices of Additional Assessment with penalty for year of assessment 2015 to 2018 amounting to RM18.7 million (“2021 Notices”).

 

The 2021 Notices were raised mainly pursuant to dispute by DGIR on the status of UEM Edgenta as a Management Services Company and shall be taxed as an Investment Holding Company under Section 60FA of the Income Tax Act, 1967.

 

Based on UEM Edgenta tax solicitors’ opinion, the Company is of the view that there are reasonable grounds to challenge the basis of assessment. The Company shall proceed to file an appeal against the 2021 Notices raised by DGIR with the Special Commissioner of Income Tax. The Company is taking further advice from its tax solicitors and tax agent in order to take all necessary actions to protect the interest of the Company.

 

There will not be any imminent financial effects on UEM Edgenta pending outcome of the appeal.

 

The Company will make further announcement on any material development of the matter from time to time. 

 

 

This announcement is dated 3 May 2021.






Announcement Info

Company Name UEM EDGENTA BERHAD
Stock Name EDGENTA
Date Announced 03 May 2021
Category General Announcement for PLC
Reference Number GA1-30042021-00091