Court stays payment of oil and gas company’s RM900mil tax bill

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

A three-man bench says there are special circumstances to warrant the stay order in favour of Shell Gas Holdings (Malaysia) Limited.

PUTRAJAYA: The Court of Appeal has granted an oil and gas company a stay order in relation to the payment of tax assessed at almost RM900 million.

Lee, who sat with Justices Ruzima Ghazali and Azizul Azmi Adnan, said the company also had a good tax payment record. In May, Shell Gas filed a leave application in the High Court, naming the finance minister as respondent. Shell Gas contends that the gains are capital receipts and are not taxable. The company says this is especially so given that it had owned the shares for about 22 years as an investment.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines