Local Company Fined For Income Tax Violation
By Amin Hosni

Bandar Seri Begawan - The Bandar Seri Begawan Magistrate's Court recently fined Sari Comraya Sdn Bhd, a local company which failed to furnish the Revenue Section, Ministry of Finance, with the relevant 'Return of Income and Particulars Form'.

The form was required to ascertain the income tax chargeable to the company for 2003, 2004, 2005 and 2006.

The company was represented by its director, Yoon Siew Poon. He was slapped with a $3,250 fine or four months' jail in default after he pleaded to four charges under the Income Tax Act.

Failure to comply with the notice or non-submission of a 'Return of Income and Particulars Form' including the annual audited accounts is a criminal offence punishable under Section 78(2) of the Income Tax Act (Chapter 35). Those found guilty could be slapped with a $10,000 fine or jailed. -- Courtesy of Borneo Bulletin

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