KUALA LUMPUR: Astro Malaysia Holdings Bhd has received an additional tax bill of RM734.88 million for the years of assessment of 2019 to 2023 from the Inland Revenue Board (LHDN).
In a filing to Bursa Malaysia, the company noted the additional tax was imposed to its subsidiaries namely Astro Shaw Sdn Bhd and Measat Broadcast Network Systems Sdn Bhd.
Astro Shaw was taxed another RM22.01 million, while Measat Broadcast Network with an additional RM712.87 million.
The notices were issued as the production costs incurred during the years of assessment were disallowed for deduction.
Astro Shaw and Measat Broadcast Network were given 30 days to appeal against the decision.
"Based on legal advice obtained, Astro Shaw and Measat Broadcast Network are of the view that there are fair and reasonable grounds to defend against the Notices.
"Therefore, both Astro Shaw and Measat Broadcast Network intend to appeal and if required, initiate legal proceedings to challenge the basis and validity of the notices raised by the LHDN," it added.
