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TNB disputes RM1.81b tax assessment from IRB

KUALA LUMPUR (July 15): Tenaga Nasional Bhd (TNB) said it has received a notice of additional assessment for 2018 amounting to RM1.81 billion from the Inland Revenue Board (IRB).

In a bourse filing yesterday, the power giant said it received the notice on Monday, which was similar to the notices it had received in past years.

These notices, it said, are pending in court and TNB has obtained an interim stay order against the payment of the disputed taxes.

“Based on the legal advice obtained from our tax solicitors, TNB is of the view that it has a good basis in law to contend that the assessments were erroneously raised by the IRB, Accordingly and as before, TNB will be appealing against the said notice, the soonest,” it said.

Shares of TNB closed 12 sen or 1.1% higher at RM11.44 yesterday, giving the group a market capitalisation of RM65.26 billion.

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