According to the Malaysian Reserve, the company was served with notices of additional assessment for the year 2016 and 2017.

The company was quoted as saying that the additional assessment arose from the disallowance of Maxis Broadband’s deduction of interest expenses incurred during the two years of assessment.

However, Maxis said it would challenge the basis and validity of the disputed notices of additional assessment and the penalty imposed.

The fine slapped on Maxis comes a month after the company was issued a RM100,000 compound by the Malaysian Communications and Multimedia Commission for registering prepaid SIM cards without verifying the users’ information in 2019.

Maxis Broadband supplies mobile phone and broadband services and is one of six subsidiaries of Maxis Bhd.