Company fined for not filing tax returns
BANDAR SERI BEGAWAN
A LOCAL company was fined $5,000 at the Magistrates’ Court yesterday for failing to file in its income tax statements for five consecutive years.
The directors of Bekeev Sdn Bhd, whose registered address is in Kg Bengkurong, pleaded guilty to the five charges under the Income Tax Act, Chapter 35, during yesterday’s proceedings before presiding Senior Magistrate Hj Nabil Daraina PUKDPSSU Hj Badaruddin.
The company had not declared income between 2010 and 2014.
Tax collectors served the company their final notices on January 7 this year along with the particulars forms needed for them to fill and return. It was given 30 days to comply.
However, the directors of the company still failed to carry out their tax duties despite repeated reminders and were subsequently prosecuted.
The presiding senior magistrate subsequently handed down the sentence yesterday following the guilty plea and the company was ordered to settle the fine by the next day.
The company had no prior convictions before yesterday.
Under Section 78(2) of the Income Tax Act, Chapter 35, failure to comply with the requirements of companies to file a return of income for the year is punishable with a maximum fine of $10,000 or up to 12 months’ imprisonment in default of the payment.
The Brunei Times