The High Court on Thursday confirmed for May 30 to hear Genting Malaysia’s application for a judicial review concerning a tax incentive scheme for its RM10.4 billion Genting Integrated Tourism Plan (GITP) redevelopment project, local media reports.
In 2014, Malaysia’s Ministry of Finance approved Genting Malaysia’s tax incentives application for the GITP, which allowed the group to claim income tax exemption equivalent to 100 percent of qualifying capital expenditure incurred for a period of 10 years.
However, the MoF amended the tax incentive scheme in December 2017, prolonging the utilization period of the tax allowances “significantly”, according to Genting Malaysia.
Genting Malaysia submitted an appeal to MoF, but it was turned down in September last year.
In January 2019, Genting told Bursa Malaysia that it is filing an application for judicial review of MoF’s 2017 decision.
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