Bintulu Port receives RM44.2m in tax notices from IRB, plans to appeal
The notices, received on July 31, 2025, comprise RM6.75 million for 2020, RM11.0 million for 2021, RM12.67 million for 2022, and RM13.80 million for 2023.
In a filing with Bursa Malaysia, the port operator said it has obtained legal advice and believes there is no legal or factual basis for the issuance of the assessments.
The group intends to challenge and appeal against the validity and correctness of the notices.
Bintulu Port added that it will take all necessary actions in accordance with applicable laws. — TMR
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
9 hours ago
- The Sun
Tax incentives proposed for companies boosting national unity in Malaysia
KUDAT: The National Unity Ministry is exploring tax incentives for corporations that actively contribute to community-level unity programmes. Minister Datuk Aaron Ago Dagang revealed plans to engage the Finance Ministry and Inland Revenue Board to formalise the proposal, aiming to encourage private-sector participation in fostering social cohesion. Aaron emphasised the need for collaborative efforts beyond government action. 'Unity is a shared responsibility involving corporations, NGOs, and local communities. Social integration directly enhances public confidence in building our nation's future,' he said during the launch of the Borneo Unity Ride 2025. The 15-day cycling event spans 1,500 kilometres from Tanjung Simpang Mengayau to Telok Melano in Sarawak. The initiative aligns with the Malaysia MADANI framework, prioritising cross-sector partnerships. 'Sustainable unity requires inclusive CSR programmes that address national unity, health (ANMS), and patriotism (Semarak Bulan Kebangsaan 2025),' Aaron added. - Bernama
New Straits Times
10 hours ago
- New Straits Times
Unity Ministry seeks tax breaks for companies supporting community unity
KUDAT: The National Unity Ministry will discuss with the Finance Ministry and Inland Revenue Board the possibility of offering tax breaks to companies that contribute directly to community-level unity efforts. Minister Datuk Aaron Ago Dagang said it is hoped the move would encourage more corporate entities to extend support through inclusive Corporate Social Responsibility programmes that strengthen societal harmony. Aaron called on more non-governmental organisations and corporate companies to take an active role in organising community development programmes centred on unity. "Social integration that directly impacts the well-being of local communities also strengthens the public's confidence in shared responsibility to build the nation's future," he said when launching the Borneo Unity Ride 2025 Tour Programme here today. He also said cross-sector collaboration is key to fostering sustainable and effective unity in the spirit of Malaysia Madani. Aaron said that unity is not solely the responsibility of the government, but rather a collective effort involving all citizens, including the corporate sector, civil society and local communities. "In the spirit of Malaysia Madani, this cross-sector collaboration is vital to achieve a sustainable and effective unity ecosystem," he added. The bicycle ride spans 15 days, covering more than 1,500 kilometres from the Tip of Borneo at Tanjung Simpang Mengayau here to Teluk Melano in Sarawak. The programme focuses on three core components: the National Unity and Integration Agenda, the Agenda Nasional Malaysia Sihat and the Semarak Bulan Kebangsaan 2025.
The Sun
13 hours ago
- The Sun
Tax Matters – Timely for businesses to review their stamp duty position
ALTHOUGH stamp duty has been present since 1949, compliance has not been the top focus of taxpayers since the tax authorities have been relaxed over the years in enforcing the law. However, recently, there is clearly a noticeable focus by the Inland Revenue Board (IRB) on raising awareness of taxpayers through visits to taxpayers and carrying out audits. The focus of such visits seems to lean towards auditing the taxpayers and collecting back taxes and penalties. The educational element is a little lacking. The IRB's right to collect stamp duty based on the legislation cannot be denied. Historically, stamp duty was collected on a voluntary basis rather than through enforcement of tax laws. In the early days, you could stamp your documents at IRB offices, district offices or attest revenue stamps to documents and stamp impressed by means of a die. The passive approach adopted in the past is no longer the approach taken by the IRB. Now, the approach is being more proactive in ensuring the law is complied with and enforced. Taxpayers can no longer wait for the authorities to come. Since stamp duty is applicable on all written instruments covered in the Stamp Act, it is timely for you to review the documents and if necessary have them stamped and pay the taxes together with the late payment penalties. Where are the likely problems? You have got to first determine the documents that need to be stamped and the documents that do not need to be stamped. If a document needs to be stamped, then you must classify the instrument and determine what the quantum of the stamp duty is to be paid. This is where the problem starts. An example of an ambiguity is the difficulty in determining whether payment for a lease is rental or premium. This will be largely dependent on the wording used in the document. As opposed to income tax and other legislation, the issue of the actual conduct of the parties to the transaction versus the legal documentation is not present in the Stamp Act. The Stamp Act focuses primarily on the written documentation. A common example where there will be differences of opinion between the IRB and the taxpayer is whether the instrument should be classified as an agreement under Item 4 of the First Schedule (RM10) versus other categories in which the stamp duty rates can differ, such as Item 22 in the case of contracts for services (1% of the contract value), or Item 32 for agreements for conveyances or sales (1% to 4% of the either the selling price or the market value of the property, whichever is greater). Another example would be that sometimes there is difficulty in deciding instruments that merely record the intention of the parties with values mentioned in the document, versus the document being interpreted as a loan document. The stamp duty here could be either RM10 or could fall under Item 22, which could either be 0.5% or 1% of the amount mentioned in the document. The latest problem taxpayers will be facing is the absence of human interaction when dealing with the Stamp Office. It has become mechanical because of the use of the STAMPS portal and the sudden appearance of large assessments will be a shock to taxpayers. The way forward Since stamp duty can trigger significant liabilities, it should not be relegated below the other taxes. It is also important that taxpayers should determine their stamp duty position at the time they are drawing up the documents. Taxpayers should do the proper stamp duty planning within the confines of the law.
