FEW people realise that when they commit a tax offence, they could open themselves to being charged under the Anti-Money Laundering and Anti-Terrorism Financing Act (AMLATFA) 2001.
They are liable to be fined up to RM5mil and jailed up to five years or both. The three tax offences under the AMLATFA are failure to file income tax returns, submitting incorrect income tax returns and willful evasion of tax.
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