February 2022

TNB's Application to Quash a RM1.8 billion Tax Bill

The latest tax case that has made the round last week was the High Court's decision to allow Tenaga Nasional Berhad's ["TNB"] judicial review application to quash a RM1.8 billion tax bill issued by the Inland Revenue Board ["IRB"]. The case concerns the IRB's decision to disallow TNB from claiming reinvestment allowance ["RA"] under Schedule 7A of the Income Tax Act 1967 ["ITA"].