Court denied MK Land’s appeal on RM80.77m tax bill

by TMR

MK Land Holdings Bhd noted the Court of Appeal has rejected its wholly owned subsidiary Saujana Triangle Sdn Bhd’s (STSB) appeal against the decision of the High Court which means the RM80.77 million claimed by the Inland Revenue Board comes due.

In an exchange filing with Bursa Malaysia yesterday, the property developer noted STSB’s solicitors and tax consultants advised there are reasonable grounds to challenge the validity of the said notices of assessment and additional assessment raised by the IRB and penalties imposed via an appeal to the Special Commissioners of Income Tax.