Country Heights has funds to settle govt's RPGT claim

PETALING JAYA: Country Heights Holdings Bhd (CHHB) has a tax retention sum amounting to RM11.214 million which can be used to settle a claim filed by the government for real property gains tax (RPGT).
In a filing with Bursa Malaysia yesterday, the company said the funds can be used if the appeal to the High Court is determined in favour of the Director-General of the Inland Revenue Board.
It would then have to pay the remaining RM11.403 million. The total sum of the claim is RM22.617 million together with interest at 8% thereon. The claims filed against CHHB was for RPGT for the years of assessment of 1993, 1998 and 1999.
The government filed the claim against CHHB by a summons dated Jan 20, 2010. A hearing was fixed on Dec 21, 2012 during which the Court allowed the government's application for Summary Judgment with cost.
On Dec 24, 2012, CHHB filed a Notice of Appeal against the High Court's decision, which was allowed by the Court of Appeal with costs in the cause.
The government then filed an application for leave to appeal to the Federal Court, but was dismissed and the matter was then reverted back to High Court for full trial.
However, the main suit at the High Court was disposed of on Dec 18, 2014 by parties recording a consent judgment wherein both parties agreed to be bound by the decision of the Special Commission of Income Tax (Special Commissioners).
On Aug 21, 2013, the Special Commissioners dismissed CHHB's appeal on the assessments for the years 1993 and 1998, including penalties, for the sum of RM19.239 million and allowed its appeal on the assessment for the year 1999, including penalties, for the sum of RM3.378 million.
Both parties on Oct 9, 2013 filed their appeal to the High Court in relation to the decision rendered by the Special Commissioners.
The appeal was heard on March 24, 2015 and the Court fixed to deliver its decision on June 11, 2015. However, the High Court has reserved its decision to July 10, 2015.