The RM2.07bil tax bill issued by the Inland Revenue Board is not expected to affect Tenaga Nasional Bhd’s cashflow, says its chief financial officer.
“Whatever cash we have in our business is actually there. Any additional assessment of tax et cetera, will be an outcome of the appeal. So at this point of time, whatever cash we have, we’ll have that,” said Fazlur Rahman Zainuddin at a press conference after the utilities giant’s 25th AGM.
Asked how the amount could potentially impact its profit and loss, he said: “This is subject to the outcome of the appeal and we can’t speculate the position.”
He told reporters the firm would pursue the case based on advices given by its tax and legal consultants.
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“Whatever cash we have in our business is actually there. Any additional assessment of tax et cetera, will be an outcome of the appeal. So at this point of time, whatever cash we have, we’ll have that,” said Fazlur Rahman Zainuddin at a press conference after the utilities giant’s 25th AGM.
Asked how the amount could potentially impact its profit and loss, he said: “This is subject to the outcome of the appeal and we can’t speculate the position.”
He told reporters the firm would pursue the case based on advices given by its tax and legal consultants.
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