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SELANGOR (Sept 8): Country Heights Holdings Bhd’s (CHHB) wholly-owned subsidiary Country Heights Sdn Bhd (CHSB) was slapped with two law suits amounting to RM 28.10 million in income tax by the Malaysian government, the digitalEdge DAILY reported today.
In a filing with Bursa Malaysia yesterday, CHHB said two summonses for the above, dated Aug 17, were received by the company on Sept 4.
The first suit was for income tax for the years of assessment 1997 and 1998 — amounting to the sum of RM23.48 million.
The second was for the year of assessment 2008, for RM4.62 million. Both claims come with interest at the rate of 5% per annum, to be calculated from the date of judgement thereon until full settlement they said.
Meanwhile, CHSB is now in the process of filing its memorandum of appearance for both suits.
“There will not be any likely material impact on the net assets per share, earnings per share and gearing of the CHHB Group in the current financial year as the tax payables have already been provided for in the financial statements of the group,” the group added.
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