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IRB slaps RM476.5m penalty on Magnum, unit

Mimi Sabreena 9:20:00 PM Informasi

KUALA LUMPUR (May 19): The Inland Revenue Board (IRB) has slapped Magnum Bhd and its wholly-owned subsidiary Magnum Holdings Sdn Bhd (MHSB), with notices of assessment for penalties, totalling RM476.47 million.

In a filing with Bursa Malaysia today, Magnum said the group had on Monday been served with notice of assessment for Year of Assessment 2008, and from 2011 to 2015 for income tax, with penalty of RM22.71 million, while MHSB received a penalty for Year of Assessment from 2008 to 2013, amounting to RM453.75 million.

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