Kuala Lumpur:Sime Darby Bhd announced that its subsidiary, Sime Darby Holdings Bhd (SDHB), will appeal tax assessments amounting to RM150.18 million, including penalties, which were issued by the Inland Revenue Board (IRB) for the assessment years 2017 to 2023.
According to BERNAMA News Agency, the assessments were received on September 30, 2026, after the IRB concluded that interest income from SDHB's treasury activities should be taxed under Section 4(c) of the Income Tax Act 1967. SDHB has a 30-day window from the notice date to file an appeal.
Sime Darby stated that, after consulting with tax and legal advisors, SDHB believes it has strong legal grounds to contest the assessments. The company intends to appeal and pursue legal action to dispute the basis and validity of the notices from the IRB.
Sime Darby also noted that it would provide additional updates should there be any significant developments regarding the matter.