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High Court grants Petronas, TNB interim stay against IRB for multi-billion tax claims

August 10, 2020

KUALA LUMPUR (Aug 10): Both Petroliam Nasional Bhd (Petronas) and Tenaga Nasional Bhd (TNB) see a ray of hope as the High Court has granted them interim stay against the Inland Revenue Board (IRB) on additional tax assessments that have been imposed on the two conglomerates.

The High Court has granted Petronas an interim stay against the IRB for imposing additional tax assessments amounting to RM3.6 billion on the national oil company.

Justice Datuk Ahmad Kamal Shahid granted the interim stay pending the full hearing of the judicial review to challenge the additional tax assessments and pending the outcome of the Bintulu Lumber case, which is scheduled before the Federal Court on Aug 26.

This is the second interim stay order that the High Court has granted Petronas in two weeks. Last week, the court had granted a similar order to Petronas over a RM105 million tax claim.

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