JB company director slapped with RM1.284mil penalty for tax evasion
A construction and maintenance company director has been slapped with a RM1.284mil penalty for tax evasion with an additional RM23,000 in fines for failure to file three years of the company's tax returns.
38-year-old Yusof Ahmad pleaded guilty when the charges were read before Magistrate Nur Fatin Mohamad Farid at a Magistrate's Court in Johor Baru on Tuesday (Oct 17).
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38-year-old Yusof Ahmad pleaded guilty when the charges were read before Magistrate Nur Fatin Mohamad Farid at a Magistrate's Court in Johor Baru on Tuesday (Oct 17).
Read more at https://shorturl.at/fkmq3
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
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NewsTranscript
00:00 A construction and maintenance company director has been slapped with a 1.284 million ringgit
00:06 penalty for tax evasion with an additional 23,000 ringgit in fines for failure to file
00:13 three years of the company's tax returns.
00:16 Thirty-eight-year-old Yusuf Ahmad pleaded guilty when the charges were read before Magistrate
00:21 Nur Fatin Mohamad Farid at a magistrate's court in Johor Bahru on Tuesday.
00:26 Yusuf, as the company's director, had failed to submit its income statement in Form C to
00:32 the Inland Revenue Board Director-General without a reasonable excuse between 2019 and
00:37 2021.
00:39 He was charged under Section 112(1)(a) of the Income Tax Act 1967 for failure to submit
00:46 the form and evading tax for the 2019 and 2020 financial years on the company's taxable
00:52 income totalling up to 1.78 million ringgit.
00:56 He was also charged under Section 112(1) of the Income Tax Act 1967 for failing to file
01:03 the income statement in Form C for the 2021 assessment year.
01:08 In his appeal, Yusuf requested the court to allow him to pay the penalties and fines in
01:13 installments.
01:15 Magistrate Nur Fatin then set a fine of 15,000 ringgit and a special penalty of 1.284 million
01:22 ringgit for the first charge, which must be paid within 12 months.
01:26 Yusuf was fined 8,000 ringgit for the second charge.
01:29 [End of Audio]
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