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MyEG hit with RM353m tax suit, company seeks amicable settlement
The government has filed a lawsuit against MyEG Sdn Bhd, a wholly-owned subsidiary of Zetrix AI Bhd, over an additional income tax assessment totalling RM353.13 million from the Inland Revenue Board (IRB).
In a Bursa Malaysia filing yesterday, Zetrix AI said the assessment relates to transfer pricing amounting to RM333.1 million and deemed interest worth RM20.02 million, including penalties, for the years of assessment from 2021 to 2023.
Zetrix AI also...
The government has filed a lawsuit against MyEG Sdn Bhd, a wholly-owned subsidiary of Zetrix AI Bhd, over an additional income tax assessment totalling RM353.13 million from the Inland Revenue Board (IRB).
In a Bursa Malaysia filing yesterday, Zetrix AI said the assessment relates to transfer pricing amounting to RM333.1 million and deemed interest worth RM20.02 million, including penalties, for the years of assessment from 2021 to 2023.
Zetrix AI also noted that it received a letter on the issue from IRB on Oct 28, which also notified MyEG of the government’s civil suit against it.
“MyEG is confident in the merits of its position and will take all necessary steps to safeguard its interests, including defending its position through the appropriate legal channels where necessary.
“Concurrently, MyEG has also filed an appeal to challenge the aforesaid additional income tax assessments before the Special Commissioners of Income Tax while seeking to resolve the matter amicably with the IRB,” the bourse filing added.
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In a separate filing, Zetrix AI confirmed it has yet to receive any official letter from the government regarding potential legal action over its alleged failure to settle arrears of government revenue collections and penalties worth RM314 million.
Earlier this week, Transport Minister Anthony Loke said the government intends to pursue legal action against Zetrix AI and MyEG, stressing that delays in remitting the money constitute a serious breach of agreement terms.
Addressing the Dewan Rakyat in his winding-up speech during Budget 2027 debates, Loke also warned that government revenue collections cannot be used for company operations.
For over two decades, Zetrix AI provided online services linked to the Road Transport Department, including collecting government revenue on behalf of the department and charging users convenience and delivery fees where applicable.
On Oct 13, police opened an investigation paper into Zetrix AI and MyEG, with Loke saying that the firms failed to remit RM314 million in revenue collected to the government between May 19 and Sept 30.
Bersama co-leader Rafizi Ramli on Oct 20 urged Prime Minister Anwar Ibrahim to clarify details about Zetrix AI’s financial crisis, saying it is a matter of public interest.
The former PKR deputy president highlighted that the Employees Provident Fund (EPF), the Retirement Fund Incorporated (KWAP), and Urusharta Jamaah Sdn Bhd held a “substantial amount” of the company’s shares.
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Typical Malaysia boleh attitude. How can such a big amount be not accounted for over such a short period of time? What was the ministry doing? Loke should be answerable?
RM353 MILLION TAX DISPUTE — WHO IS ACCOUNTABLE? WHERE WERE THE WATCHDOGS? The MyEG tax assessment raises serious questions that demand answers from the Ministry of Finance, Inland Revenue Board and relevant enforcement authorities. Who were the persons in charge (PICs)? Who approved and oversaw these transactions? Where were the auditors, regulators and corporate decision-makers from 2021 to 2023? Will the disputed taxes and penalties be recovered if the assessment is upheld? Will any wrongdoing be investigated? If criminal offences are established, will those responsible face prosecution and imprisonment, or will this end with another convenient NFA — No Further Action? A tax dispute is not automatically corruption, but RM353 MILLION IS NO SMALL MATTER! The rakyat are tired of financial controversies, weak oversight and the perception that powerful individuals escape accountability. ENOUGH OF THE SANDIWARA! NO SELECTIVE ENFORCEMENT, NO SPECIAL PRIVILEGES, NO SWEEPING MATTERS UNDER THE CARPET! FOLLOW THE MONEY. IDENTIFY THOSE RESPONSIBLE. RECOVER WHAT IS LEGALLY OWED. PROSECUTE PROVEN WRONGDOING! Malaysia deserves accountability, not another scandal without answers!
In the 1st place, why appoint private company to do collections? Civil servants makan gaji buta ke, collection pun tak tahu buat .... And why wait until it balloon to RM314 million before taking legal action?? After more than 30 notices only take action?? Dah lambat la, duit sudah hangus.... All those involved including the minister should be sacked...
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