The Ministry of Finance (MOF) has agreed to refund the sales tax penalty of RM531,732 imposed on Karyon Industries Bhd’s unit Allbright Industries (M) Sdn Bhd (AISB), and that any further appeal would not be considered by the MOF.

The Customs Department had requested AISB, in April 2016, for the additional payment of RM1.063m in sales tax with penalty of RM531,732 “due to different classification of product tariff code”. AISB subsequently paid the sales tax and sales tax penalty on 19 April and 25 April, respectively.

The penalty was then refunded following an appeal submitted by Karyon.

Source: News Straits Times Online, 30 December 2016