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 firstname.lastname@example.org.
The identity of the complainant and information received will be kept confidential. — Bernama
Tags / Keywords:
Government, evasion, income tax
Not molotov cocktail attack on Customs officers car, says police
Passenger killed after car plunges into ravine, missing driver found alive after three days
Azmin: Water deal stays
Foreign workers make the best of it
12,000 brave rain to watch Mariah Carey
Human rights lawyer dies at 84
Road trip heaven: That’s Route US 84 out of Sante Fe
Company works to make cashless transactions more widespread
Defenders sparkle as Leverkusen beat Zenit
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)