KUALA LUMPUR (Dec 19): The Court of Appeal has granted UEM Sunrise Bhd’s (KL:UEMS) wholly-owned unit UEM Land Bhd leave to challenge the Inland Revenue Board’s (IRB) additional tax assessment and penalty of RM8.49 million.

The appellate court, in its decision on Thursday, allowed UEM Land’s appeal against the High Court’s decision in March last year to dismiss the company’s leave for a judicial review application and stay on payments of the additional taxes and penalty, according to UEM Sunrise's bourse filing.

UEM Land was issued with the notice of additional tax assessment and penalty on May 3, 2021. The RM8.49 million additional taxes and penalty were for years of assessment 2013 to 2018 and relate to the removal of Bumiputera quota and low-cost requirements at the company’s selected developments in Iskandar Puteri, Johor.

Apart from UEM Land, UEM Sunrise’s wholly-owned subsidiary Symphony Hills Sdn Bhd received a similar notice in 2021, but for a heftier RM73.69 million following the reversal of tax losses utilisation for years of assessment 2006 to 2017.

Symphony Hills’ leave for judicial review application to challenge IRB's notice was dismissed by the High Court in November 2023.

In the latest update available on the bourse, Symphony Hills filed a stay application in the High Court in December last year. Previous filings did not disclose whether the unit had filed an appeal against the High Court decision.

Shares in UEM Sunrise ended half a sen or 0.51% higher at 98.5 sen on Thursday, valuing the group at RM4.98 billion.

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