The Indonesian tax authority rejected objections by XMH (SGX:BQF) unit Xin Ming Hua Engine to a tax assessment of 69.1 billion Indonesian rupiah, according to a Friday filing.
The rejected amount comprises 18.5 billion rupiah in corporate income tax, 10.3 billion rupiah in withholding tax, and 40.3 billion rupiah in value-added tax (VAT).
The subsidiary's objection to the remaining 74.8 billion rupiah VAT component is still under review, with no decision issued yet.
Xin Ming Hua Engine plans to file formal tax appeals against the tax authority's decisions.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments