KUALA LUMPUR: Country Heights Holdings Bhd has written to the Minister of Finance to appeal over the Inland Revenue Board’s decision regarding taxes owed by one of its subsidiaries.
In a statement to Bursa Malaysia, Country Heights Holdings Bhd (CHHB) said the tax liabilities of Country Heights Sdn Bhd (CHSB), amounting to RM22,488,593.83 incurred during the Asian Financial Crisis in 1997 and 1998 has yet to be settled.
The Shah Alam High Court has allowed the IRB’s application for summary judgement together with cost of RM2,500.00 as advertised by the IRB on December 29 2016.
“As the tax liabilities of CHSB were incurred during the Asian Financial Crisis in 1997 and 1998, the Company has written to the current Minister of Finance to appeal against the IRB’s decision,” it added.
CHHB said the Group had settled tax liabilities of several subsidiaries to IRB.
Mega Palm Sdn Bhd (MPSB) on December 5 December 2016, made a lump sum payment of RM5,891,621.47 being the full and final settlement of the tax liabilities of MPSB for the years of assessment 2011, 2013 and 2014.
Mines Waterfront Business Park Sdn Bhd (MWBP) on December 14 2016, made a lump sum payment of RM1,094,119.86 being the full and final settlement of the tax liabilities of MWBP for the years of assessment 2008 and 2009.
Tindak Murni Sdn Bhd (TMSB) on December 14 2016, made a lump sum payment of RM3,775,862.18 being the full and final settlement of the tax liabilities of TMSB for the year of assessment 2014.
“The above payments are financed from an interest-free loan from a major shareholder of CHHB, namely Tan Sri Lee Kim Tiong @ Lee Kim Yew,” the company said.