Maxis Berhad : Notice of Additional Assessment Raised On maxis Broadband Sdn Bhd ("MBSB"), A Wholly Owned Subsidiary of Maxis Berhad ("Maxis" Or "The Company") By The Director General Of Inland Revenue ("DGIR")

Notice of Additional Assessment Raised On maxis Broadband Sdn Bhd ("MBSB"), A Wholly Owned Subsidiary of Maxis Berhad ("Maxis" Or "The Company") By The Director General Of Inland Revenue ("DGIR")

Type	Announcement
Subject	OTHERS
Description	Notice of Additional Assessment raised on Maxis Broadband Sdn Bhd ("MBSB"), a wholly owned subsidiary of Maxis Berhad ("Maxis" or "the Company") by the Director General of Inland Revenue ("DGIR")

Maxis wishes to announce that on 25 February 2022, MBSB was served with notice of additional assessment with penalty for the year of assessment 2020 totaling RM107 million ("2022 Notice").

The 2022 Notice was raised mainly pursuant to the disallowance of MBSB's deduction of interest expenses incurred during the said year of assessment and hence, similar in nature with the notices received in the past years in respect of years of assessment 2016 up till 2019.

Based on legal advice obtained, MBSB will initiate legal proceedings to challenge the basis and validity of the disputed 2022 Notice raised by the DGIR and the penalty imposed.

There will not be any imminent financial effects on the Maxis Group pending the outcome of the legal proceedings.

The Company will provide updates from time to time of any material development to this matter.

This announcement is dated 28 February 2022.

Announcement Info

Company Name	MAXIS BERHAD
Stock Name	MAXIS
Date Announced	28 Feb 2022
Category	General Announcement for PLC
Reference Number	GA1-28022022-00092