Development On The Notices Of Additional Assessment Raised On Maxis Broadband Sdn Bhd ("MBSB"), A Wholly Owned Subsidiary Of Maxis Berhad ("Maxis" Or "The Company") By The Director General Of Inland Revenue ("DGIR")

Back Dec 29, 2023


Type Announcement
Subject OTHERS
Description Development on the Notices of Additional Assessment raised on Maxis Broadband Sdn Bhd ("MBSB"), a wholly owned subsidiary of Maxis Berhad ("Maxis" or "the Company") by the Director General of Inland Revenue ("DGIR")
We refer to our announcements dated 20 November 2020, 31 March 2021, 28 February 2022, 20 April 2023, 21 September 2023 and 27 November 2023.

We also refer to the issuance of notices of additional assessment with penalties for the Year of Assessment 2017 (“ICI Notice”), Years of Assessment 2016 and 2017 (“2020 Notices”), Years of Assessment 2018 and 2019 (“2021 Notices”), Year of Assessment 2020 (“2022 Notice”) and Year of Assessment 2021 (“2023 Notice”) (collectively referred to as “Assessments”).

Maxis wishes to announce that the DGIR and MBSB have agreed to the global settlement terms for the Assessments and a settlement agreement will be formalised in accordance with the Income Tax Act 1967. Pursuant thereto, the total sum payable as full and final settlement of the Assessments is RM73 million.

This global settlement is undertaken to expeditiously resolve these matters with the DGIR.

The Company will provide an update from time to time on any material development relating to this matter.

This announcement is dated 29 December 2023.


Announcement Info

Stock Name MAXIS
Date Announced 29 Dec 2023
Category General Announcement for PLC
Reference Number GA1-29122023-00050