Home > News > Nation
Wednesday July 9, 2014 MYT 12:00:00 AM
Wednesday July 9, 2014 MYT 7:03:22 AM
KUALA LUMPUR: The Government almost lost RM2.02bil when 1,748 companies tried to evade paying taxes over three years from 2011.
Through a tax compliance audit, the Inland Revenue Board (IRB) not only recovered the sum owed to the Government, but also obtained penalty payments amounting to RM1.3bil from the companies.
“All these companies committed obscure tax evasion and action was taken against them outside court, requiring them to pay tax on additional income assessment and a penalty,” said IRB Investigation Department director Datuk Mohd Nizom Sairi.
He added that the tricks of tax dodgers included making false purchases and expenditure claims and not reporting sales or reducing the amount of reported sales, as well as making excessive allowance claims or claims for ineligible allowances.
“There were also companies which reported partial profits ... perhaps the sales cash transactions made without receipts were not included in the accounts,” he said.
Tax dodgers who refused to settle what they owe, including evasion penalties, would be prevented from going abroad and have a caveat placed on their assets, he added.
The IRB enforced the compliance audit after the implementation of the tax self-assessment system for companies in 2001.
He said the public could report tax evasion cases to the IRB via letter or e-mail to email@example.com.
The identity of the complainant and information received will be kept confidential. — Bernama
Tags / Keywords:
Government, evasion, income tax
Tunku Ismail weds bride in private ceremony
SMEs need higher soft loans to revive business
Facebook puppy love turns deadly
Muhdalena who escaped after giving birth caught 211km away
Father desperately seeking mentally-ill son
Rizalman in NZ court with self-appointed counsel
US$100mil Ebola pledge from Microsoft co-founder Allen
The Great British Bake Off season one – cake dreams
Italian football in danger of dying, says Juve president
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)