Bandar Seri Begawan - Two local companies, on November 17, were brought to the Magistrates' Court for committing an offence under Section 78(1)(a) of the Income Tax Act (Cap 35) for the failure to provide the Ministry of Finance's Revenue Division with the Return of Income and Particulars forms.

Liang Toon Department Store Sdn Bhd represented by one of its directors, pleaded guilty on behalf of the company on the offences for failing to file the Return of Income and Particulars forms, for the years ending 2009, 2010 and 2011.

The Magistrate's Court imposed a total fine of B$4,500.

Jasra Harrisons Shipping & Agency Sdn Bhd represented by one of its directors, pleaded guilty on behalf of company on the offences for failing to file the Return of Income and Particulars forms, for the years ending 2007, 2008, 2010 and 2011. The Magistrate's Court imposed a total fine of $6,000.

The matter was heard before Senior Magistrate Lailatul Zubaidah Hj Hussain and DPP Atiyyah PD Hj Abas appeared on behalf of the Public Prosecutor.

Failure to comply with the notice or non-submission of a Return of Income and Particulars forms including the annual audited accounts is a criminal offence punishable under Section 78 (2) of the Income Tax Act (Cap 35) which carries a fine of $10,000 or in default 12 months' imprisonment.

--Courtesy of Borneo Bulletin