The notification letter from the tax authority also informed MyEG that the Malaysian government has initiated a civil suit regarding the matter. This dual development places the company at the center of both administrative tax proceedings and civil litigation, raising significant financial and legal exposure for the entity and its parent company, Zetrix AI Bhd.
In response to the assessment, MyEG stated that it is confident in the merits of its position. The company announced that it has filed an appeal to challenge the additional income tax assessments before the Special Commissioners of Income Tax. MyEG added that it is also seeking to resolve the matter amicably with LHDN while preparing to defend its interests through appropriate legal channels.
The Special Commissioners of Income Tax serve as a quasi-judicial body in Malaysia, handling disputes between taxpayers and the Inland Revenue Board. By filing an appeal, MyEG is formally disputing the validity or calculation of the tax liabilities assigned to it. The company emphasized that it will take all necessary steps to safeguard its interests, including litigating the civil suit filed by the government.
In a separate filing, Zetrix AI Bhd addressed recent media reports regarding potential legal action against the parent company. The firm stated that it has yet to receive any official letter from the government concerning news reports from two days prior alleging that the government plans to sue Zetrix AI over RM314 million in arrears. Zetrix AI indicated that it will make further announcements on any material developments regarding these alleged proceedings as appropriate.
Zetrix AI and MyEG have committed to providing updates on material developments in relation to both the tax appeal and the civil litigation. The outcome of the Special Commissioners’ review and the subsequent civil court proceedings will determine the final financial liability of MyEG and any potential implications for its parent company.
