Wednesday, October 5, 2011

Taxman orders UEM Land unit to pay RM73.8m more taxes

KUALA LUMPUR: The Inland Revenue Board has notified UEM LAND HOLDINGS BHD []'s unit Bandar Nusajaya Development Sdn Bhd (BND) to pay RM73.836 million as additional tax and penalty for the year of assessment 2006.

It said on Wednesday, Oct 5 BND has started the appeal process against the additional assessment.

'After taking into account the various advice from the consultants, the company believes that the grounds for the appeal are valid and hence no additional provision for income tax has been made by the company,' UEM Land said.

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