IRB slaps DKLS Industries with extra RM5.04m tax bill

PETALING JAYA: The Inland Revenue Board (IRB) has slapped DKLS Industries Bhd with additional tax liabilities with penalties totaling RM5.04 million for the years of assessment 2010 to 2016.
In a filing with Bursa Malaysia, DKLS said the group and three of its wholly owned subsidiaries, namely DKLS Construction Sdn Bhd, DKLS Development Sdn Bhd and DKLS Homebuilders Sdn Bhd have been imposed with the taxes and penalties due to technical adjustments.
DKLS noted that the group and its subsidiaries have accepted the additional assessment with penalties by the IRB and have reached a settlement agreement with the taxman.
It further added that the additional tax liabilities and penalties have been accounted for in the accounts and will be reflected in the financial statements of the group for the financial year ended Dec 31, 2017.
Although the additional tax assessments and penalties will affect DKLS' earnings and net assets for the financial year ended Dec 31, 2017, it will not have any effect on its gearing, share capital and substantial shareholders' shareholding.
The stock slipped one sen or 0.6% to RM1.71 with some 4,200 shares done.