Month: July 2017

IRB goes after taxpayers who have not filed tax returns for more than three years, 20 July 2017

IRB goes after taxpayers who have not filed tax returns for more than three years, 20 July 2017

The Inland Revenue Board (IRB) has launched an operation to track down 3,445 taxpayers who did not file their tax returns for more than three YAs. According to the IRB Deputy Chief Executive Officer (Policy), they will be focusing on external and table audits on 1,687 companies and 1,758 individuals from 17 July to 21 July 2017.

Source: Malay Mail Online, 17 July 2017

Company director charged for wilful evasion

Company director charged for wilful evasion, 03 July 2017

The director of Ayam Wira Food Processing Sdn Bhd pleaded guilty to charges of wilful evasion under s 114(1)(b) of the Income Tax Act 1967 for making a false statement or entry in the corporate tax returns for YAs 2012 and 2013.

Based on the Inland Revenue Board (IRB)’s investigation, the company was found to have falsified purchase invoices from seven suppliers amounting to RM2,648,098 and RM374,448 for YAs 2012 and 2013 respectively. This led to an under-declaration of taxes amounting to RM662,024.50 and RM93,612.00 for YAs 2012 and 2013 respectively.

The court imposed a total fine of RM13,500 and penalty thrice the amount totalling RM2,266,909.50.

Source: IRB website, 14 June 2017