Construction company fined for not filing income tax
BANDAR SERI BEGAWAN
A CONSTRUCTION company was imposed a $2,400 after its company representative pleaded guilty of failure to file its income tax notices.
The company, LNS Trading & Construction Sdn Bhd, admitted that they had failed to file the particulars over a period of three years from 2011 up to 2013 even after notices were issued to them by the Collector of Income Tax.
The court document states that the company was given 30 days to comply with the final notices and submit all the required documentation.
Last year, the company sought for a second extension until March this year to furnish the documents after they failed to submit the forms during the first extension on June 2015.
However, the case has been outstanding since 2011 and the defendant have since failed, without any reasonable excuse, to furnish the Revenue Section, Ministry of Finance, the return of income and particulars form.
The form is required for the purpose of ascertaining the income tax of the company as required for all companies pursuant to Section 52 of the Income Tax Act (Cap 35).
Failure to comply with Section 52 of the Income Tax Act, Chapter 35, is an offence under Section 78(1) of the Income Tax Act, Chapter 35, which carries a $10,000 fine.
Following the sentencing, the defendant was ordered to pay the fines within a two month grace period.
The Brunei Times