Aviation firm directors get warning over unremitted tax deductions

Free Malaysia Today

The Inland Revenue Board says anyone with an equity interest of at least 20% in the company is liable at the point of default.   Read More: https://www.freemalaysiatoday.com/category/nation/2024/07/05/aviation-firm-directors-get-warning-over-unremitted-tax-deductions/  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #SAS #LHDN #TaxDeductions #IncomeTaxAct1967

Transcript

00:00Directors who individually hold 20% or more of the equity interest in troubled, systematic

00:08aviation services Sindhir and Berhad have been warned that they will be hauled up if

00:12they fail to remit monthly tax deductions on their employees' behalf.

00:17A spokesperson for the Inland Revenue Board said the company, as well as individuals who

00:22serve on its board at the point of default, will be held liable.

00:26Speaking to FMT, the spokesperson said the Income Tax Act 1967 states that a director

00:32who holds 20% or more of the ordinary shares of the company will be jointly and severally

00:37liable for MTD not remitted by the company.

00:41However, he added any corresponding action can only be taken against a person who holds

00:46a position as director during the period in which the MTD becomes due.

00:51LHDN was responding to a query based on complaints from current and former employees of SAS,

00:56who have lodged reports alleging that the company has failed to remit the tax deductions

01:01over several years.

01:03The spokesperson said a director, if found guilty, is liable to a fine of between RM200

01:09and RM20,000 or to imprisonment not exceeding six months or both.

Category

Transcript

Be the first to comment

Recommended