Breaking News : Najib May Lose Pekan MP Seat Over RM 1.69 Billion Tax Arrears Case - Najib Failed to Act On The IRB’s Initial Demand - The Coverage
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Breaking News : Najib May Lose Pekan MP Seat Over RM 1.69 Billion Tax Arrears Case – Najib Failed to Act On The IRB’s Initial Demand

The Inland Revenue Board, which has filed a suit to recover RM1.69 billion in additional taxes from Najib Razak, wants the ex-prime minister to pay all dues before contesting the matter in court.

Najib’s lawyer Muhammad Farhan Muhammad Shafee said this was unfortunate as the case of “pay now and talk later” would adversely impact his client.

“The amount to the tune of RM1.69 billion will effectively bankrupt my client and disqualify him as an MP,” he told reporters after attending a case management via e-review.

Najib has been Pekan MP since 1976, with the exception of the years between 1982 and 1986 when he was Peramu Jaya assemblyman.

Farhan said lawyers appearing for the IRB had indicated to the court that they were planning to file an application for summary judgement, notwithstanding that there was an appeal on the tax assessment.

He said Najib would be filing a stay of proceedings pending the resolution of the assessment.

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The next case management is fixed for Aug 30.

LHDN filed the suit on June 25, asking Najib to pay RM1,692,872,924.83 allegedly owed between 2011 and 2017.

IRB served the writ of summons on Najib as the sole defendant on July 4.

The suit was initiated after Najib failed to act on the IRB’s initial demand in March for additional tax assessments of RM1.47 billion.

This resulted in a 10% hike of RM147 million in April and another compounded 5% hike of RM80 million in May.

The 10% increase was imposed under Section 103 of the Income Tax Act after Najib failed to pay the initial RM1.47 billion within 30 days of the date the assessment notice was issued.

The former prime minister also failed to settle the renewed sum within 60 days under the same provision, which resulted in the compounded 5% hike.

Source : FMT

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