Kuala Belait - A local company was brought before the Kuala Belait Magistrate's Court to face charges under Section 78(1)(a) of the Income Tax Act (Cap 35) for failure to provide the Ministry of Finance's Revenue Division with the Return of Income and Particulars forms.
Abd Karim & Wong Sdn Bhd, represented by one of its directors, pleaded guilty on behalf of the company to committing the offences for the years ended 2007, 2008, 2009 and 2010. The Magistrate's Court imposed a total fine of B$4,000 to be paid in a week. The company settled the fine.
The case was heard before Senior Magistrate Harnita Zelda Skinner and was prosecuted by DPP Atiyyah PD Hj Abas. 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 (Cap 35) which carries a fine of $10,000 or 12 months' imprisonment in default of payment of the fine.
--Courtesy of Borneo Bulletin