Subsidiary of glove manufacturer faces an extra RM101 million in tax payments
Hartalega Faces Additional Tax Assessments, Seeks Legal Advice
Malaysian glove manufacturer Hartalega has been issued additional tax assessments by the Inland Revenue Board (LHDN) for the years 2017 to 2022. The total amount of the assessments amounts to RM101.36 million, with specific amounts including RM13.92 million for 2017, RM36.35 million for 2018, RM10,695 for 2019, RM18.10 million for 2021, and RM90,625 for 2022.
The reasons behind the tax assessments have not been publicly detailed, but Hartalega has stated that it is currently seeking legal advice and evaluating its legal options. These options may include initiating a formal appeal against the assessments with the LHDN.
Hartalega has not disclosed any further specifics about the nature of the tax issues raised by the LHDN. The company's future announcements are expected to provide updates on the progress or resolution of the tax assessments, but they do not necessarily imply a change in Hartalega's current stance of seeking legal advice and evaluating legal options.
It is worth noting that the future announcements do not suggest any immediate resolution to the tax assessments, as they are contingent upon material developments. Additionally, the announcements do not indicate any intention from Hartalega to pay the additional tax assessments without contest.
Furthermore, the announcements do not specify whether they will include details about initiating a formal appeal to the LHDN. Hartalega is planning to make further announcements regarding the tax assessments when there are material developments.
The announcements will be made by Hartalega at a future date, contingent upon the occurrence of significant developments. The future announcements are not expected to include information about any potential impact on Hartalega's financial status or operations.
[1] Hartalega Receives Additional Tax Assessments, Seeks Legal Advice (2022, August 4). Retrieved from https://www.hartalega.com/media/news/hartalega-receives-additional-tax-assessments-seeks-legal-advice
[2] Hartalega Faces Additional Tax Assessments (2022, August 4). Retrieved from https://www.thestar.com.my/business/business-news/2022/08/04/hartalega-faces-additional-tax-assessments
[4] Hartalega Faces RM101.36 Million in Additional Tax Assessments (2022, August 4). Retrieved from https://www.theedgemarkets.com/article/hartalega-faces-rm10136-million-additional-tax-assessments
[5] Hartalega Receives Additional Tax Assessments (2022, August 4). Retrieved from https://www.thestar.com.my/business/business-news/2022/08/04/hartalega-receives-additional-tax-assessments
Hartalega, a Malaysian business entity within the finance sector, is facing additional tax assessments for the years 2017 to 2022, totalling RM101.36 million. The company is currently seeking legal advice to evaluate their legal options, which may include filing an appeal against the assessments.
In response to the tax assessments, Hartalega has not yet disclosed the specific reasons behind them and has yet to provide updates on their progress or resolution. The company has not announced any intention to pay the assessed taxes without contest.
