MyEG Hit With RM353.13 Mln Additional Income Tax Assessment By IRB, Civil Suit By Government 

KUALA LUMPUR, Oct 29 (Bernama) -- Zetrix AI Bhd's wholly owned subsidiary, My EG Sdn Bhd, received an additional income tax assessment from the Inland Revenue Board (IRB) totalling RM353.13 million on Wednesday.

In a filing to Bursa Malaysia, it said the assessment is in relation to transfer pricing amounting to RM333.10 million and deemed interest amounting to RM20.02 million for the years of assessment 2021, 2022 and 2023, including penalties.

"The same letter also notified MyEG that the Malaysian government has filed a civil suit against MyEG for this matter," it said.

Zetrix AI said MyEG is confident in the merits of its position and will take all necessary steps to safeguard its interests, including defending its position through the appropriate legal channels where necessary.

Concurrently, MyEG has also filed an appeal to challenge the aforesaid additional income tax assessments before the Special Commissioners of Income Tax while seeking to resolve the matter amicably with the IRB.

"The company will make further announcements on any material developments in relation to the legal proceedings," it said.

Meanwhile, in a separate filing, Zetrix AI said it had yet to receive any official letter from the government regarding a news report published two days ago that the government was planning to sue Zetrix AI over the RM314 million arrears.

The company will make the necessary announcements on any material developments as and when appropriate, it added.

-- BERNAMA