Aeon appeals for judicial review of RM97m tax

PETALING JAYA: Aeon Credit Service (M) Bhd has filed an appeal to the Court of Appeal over the RM96.82 million in income tax and penalty imposed by the Inland Revenue Board (IRB), after its judicial review was dismissed by the High Court.
In a Bursa Malaysia filing, the non-bank lender said it has filed a formal application for a stay against the enforcement of the notices of additional assessment to the High Court pending the disposal of its appeal, after an interim stay was granted by the High Court.
Aeon Credit noted that it had on Jan 5 filed notices of appeal to the Special Commissioners of Income Tax with the director-general of Inland Revenue (DGIR) against the notices of additional assessment.
However, it said on March 5, the High Court dismissed its application for judicial review.
The group highlighted that there are reasonable grounds to challenge the validity of the said notices of additional assessment raised by the DGIR and the penalties imposed.
“This is especially when at all material times, the company had sought professional advice from an independent firm of tax consultants on the tax treatment and that the notices of additional assessment for the years of assessment 2010 and 2011 are time barred,” it said.