Tenaga Nasional Bhd
received it, so did Magnum Bhd and AEON Credit Service (M) Bhd. UEM Sunrise Bhd too was given one, while its sister company, UEM Edgenta Bhd, could not escape either.
Maxis Bhd, S P Setia Bhd, MK Land Holdings Bhd and Ecofirst Consolidated Bhd were also not spared as they too were in the news for the same matter.
Of course, in all these listed companies, they were at one time or another, audited by the taxman. As a result, disputes had arisen on the quantum of taxes due and the treatment of certain types of income and/or gains. Penalties were then imposed by the tax authorities.
With the government trying hard to generate as much tax revenue as possible, especially during these trying times, corporations need to ensure that they do have a clean bill of health when it comes to tax liabilities and application of the relevant laws.
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