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Back Jan 09, 2018
Type Announcement
Subject OTHERS
Description

IDIMENSION CONSOLIDATED BHD ("ICB" OR "THE COMPANY") - NOTICE OF ADDITIONAL ASSESSMENT FOR PRIOR YEARS FROM INLAND REVENUE BOARD OF MALAYSIA RECEIVED BY IDB INTERACTIVE SDN. BHD.

We act for and on behalf of ICB.

The Board of Directors of ICB wishes to announce that IDB Interactive Sdn Bhd (“IDB”), a wholly owned subsidiary of the Company had on 9 January 2018 received via email a Notice of Additional Assessment for the Years of Assessment (“YAs”) 2013 and 2014 dated 29 December 2017 from Inland Revenue Board of Malaysia (“IRB”) for an additional income tax of RM280,013.25 and a 45% penalty of RM126,005.97, totaling RM406,019.22.

The abovementioned additional income tax and penalty were imposed by IRB with the view that the expenses charged in the YAs 2013 and 2014 were not qualified for tax deduction under Section 33(1) of the Income Tax Act, 1967.

In view that the disputed expenses were mainly on documents related to IDB in YAs 2013 and 2014, where IDB was yet to be wholly owned by the Company, the Company will not pursue further appeal with IRB. In turn, the Company will apply with IRB to settle the additional tax together with the penalty imposed on IDB in instalments.

This announcement is dated 9 January 2018.





Announcement Info

Company Name IDIMENSION CONSOLIDATED BHD
Stock Name IDMENSN
Date Announced 09 Jan 2018
Category General Announcement for PLC
Reference Number GA1-09012018-00081