<div id="readability-page-1"><div>[SINGAPORE] A Malaysian unit of CNMC Goldmine has been slapped with additional income tax and a penalty amounting to RM29.6 million (S$9.4 million) for the years of assessment 2019 to 2024. The Catalist-listed gold-mining company said on Friday (Dec 19) that it intends to file an appeal.The notices of additional assessments were issued by the Inland Revenue Board of Malaysia (IRBM) to CMNM Mining, the company’s 81 per cent-owned subsidiary in Malaysia.The total amount includes RM18.5 million worth of additional income tax, imposed at a rate of 24 per cent. The remaining RM11.1 million is a tax penalty charged at 60 per cent of the additional income tax.These notices were raised in relation to the disallowance of management fee expenses paid by CMNM to CNMC, for services rendered by CNMC to support its subsidiary’s operations, said the company in a bourse filing.CNMC noted that the IRBM has taken the view that such management fees are not deductible under Section 33(1) of Malaysia’s Income Tax Act 1967, on the basis that the expenses were allegedly not within the regulation’s ambit. The company added that the authority had not provided a clear basis for this. It pointed out that Section 33(1) provides that expenses incurred wholly and exclusively for the production of gross income is deductible.The Malaysian subsidiary can lodge an appeal if it disagrees with the assessments.“Based on the professional tax advice obtained, the group strongly disagrees with the aforesaid tax liability, and is of the view that it has a good basis in law to contend that the IRBM’s basis for issuing the said notices is erroneous,” said CNMC.“The group has appointed its tax solicitors to file an appeal and challenge the notices, and will do so within the statutorily prescribed timeline.”The notices are not expected to have a material adverse impact on the group’s going concern or operational viability, it added.CNMC shares ended S$0.02 or 1.9 per cent higher at S$1.09 on Friday.</div></div>

中色金礦

中色金礦在馬來西亞的子公司面臨一項額外的税務評估和罰款，總額為 2960 萬馬幣，涉及 2019 年至 2024 年。該税款與不被允許的管理費用支出有關。中色金礦計劃提出上訴，認為這些費用根據馬來西亞法律是可扣除的。公司認為税務機關的依據是錯誤的，並已聘請税務律師進行上訴。預計這些通知不會對中色金礦的運營產生重大影響。中色金礦的股價上漲了 1.9%，達到 1.09 新元

中色金礦計劃對馬來西亞子公司被徵收的 2960 萬令吉額外税款進行上訴