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Magnum's tax case 'could deter business formations in Malaysia'

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Since it was slapped with assessment notices and penalties amounting to nearly RM477 million (S$152.2 million) by the Internal Revenue Board (IRB) two months ago, Magnum Bhd's tax imbroglio has been closely followed by corporate Malaysia nervous about the taxman's stricter interpretation of tax laws.

Kuala Lumpur

SINCE it was slapped with assessment notices and penalties amounting to nearly RM477 million (S$152.2 million) by the Internal Revenue Board (IRB) two months ago, Magnum Bhd's tax imbroglio has been closely followed by corporate Malaysia nervous about the taxman's stricter

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