SHAH ALAM, Mac 2 – Permodalan Negeri Selangor Berhad (PNSB) today met with the Inland Revenue Board (IRB) to admit its failure to declare non-monetary profits in its previous EA forms, according to a statement today.

In the meeting, PNSB stated its commitment to give detailed information on all benefits given to its personnel including the chairman and board of directors.

The statement released by the Menteri Besar’s Office also mentioned that this included car and chauffeur, holidays within and outside the country as well as cash and other items.

The IRB confirmed that all these benefits should be stated in the EA Form without exception.

“Therefore, the state government is surprised by media statements by former PNSB chairman, Dato’ Seri Mohamad Khir Toyo which claimed he had no need to pay taxes on the car and chauffeur he had received as benefits.”

Meanwhile, PNSB would ask for the IRB’s advice on certain expenditure involving cash and items given as gifts to personnel.

The assessment process conducted by PNSB aimed to increase the state government subsidiary’s performance.