TNB receives additional RM840.13mil tax bill for YA2022
The energy utility said it received the notice on July 24, 2025, and - given the Federal Court's decision pertaining to a similar notice of additional assessment it received for YA 2018 - it is currently evaluating its available legal options.
"This evaluation takes into consideration that TNB has already submitted an application for Investment Allowance under Schedule 7B of the Income Tax Act 1967 (including those for YA 2022) to the Minister of Finance," it said.
Earlier this month, the Federal Court ruled in favour of the IRB concerning an additional tax assessment for the financial year ended December 2018.
The court overturned earlier High Court and Court of Appeal decisions that had favoured TNB, reinstating a tax bill initially set at RM1.81bil, which was reduced to RM1.25bil after a penalty remission in December 2020.
On July 22, 2025, the High Court granted leave to TNB, through its subsidiary TNB Western Energy Bhd, to commence judicial review against the Inland Revenue Board (IRB) in relation to a tax assessment totalling RM291.6mil for the financial year ended December 2018.
TNB said in a stock exchange filing it was also granted an interim stay of all further proceedings, including the enforcement of the assessment notice, until the disposal of the substantive hearing.
The High Court scheduled a case management on Aug 5 for further directions.
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