MyEG is challenging RM353.13 million in additional income tax assessments, including penalties, issued by the Inland Revenue Board (IRB) for 2021 to 2023.
Zetrix AI Berhad disclosed in a Bursa Malaysia filing that its wholly-owned subsidiary MyEG received a letter from the IRB on 28 October.
The amount comprises RM333.11 million related to transfer pricing and RM20.02 million in deemed interest, including penalties.
The letter also informed MyEG that the Malaysian government had filed a civil suit against the company over the matter.
MyEG has appealed the assessments to the Special Commissioners of Income Tax while seeking an amicable resolution with the IRB.
The company said it is confident in its position and will defend its interests through legal channels if necessary.
Zetrix AI Also Faces Dispute Over JPJ Collections
The Malaysian government has also announced plans to pursue legal action over RM314 million in unpaid Road Transport Department (JPJ) collections. JPJ suspended Zetrix AI and MyEG’s collection services on 5 October.
Zetrix AI said on 29 October that it had not received an official government letter concerning the reported JPJ legal action.
The Edge Malaysia also reported that Securities Commission Malaysia officials had visited Zetrix AI’s headquarters in connection with an investigation, citing sources familiar with the matter.
The regulator declined to comment on the reported visit.
Featured image: Edited by Fintech News Malaysia, based on image by leungchopan via Magnific
