Malaysia’s High Court on July 30 dismissed an appeal by the Inland Revenue Board (IRB) and upheld a finding that Maybank’s RM221.968 million spending to upgrade its computer software and systems from 2014 to 2017 was capital expenditure eligible for capital allowance. The IRB had previously rejected the claim and imposed additional tax and penalties on the bank in 2019. The ruling is a domestic tax precedent that directly affects Maybank’s tax liabilities for the relevant and prior years, without involving cross-border assets or links to global markets.