Home Detention for $1 Million Tax Evader
November 23, 2015 New Zealand Taxation
A director of two security companies in Wellington has been found guilty of dodging taxes of almost a million dollars.
Last week the Wellington District Court a serial tax offender was sentenced to eight months home detention.
Paul Cornel Coffey, a director of two security companies, was found guilty of 79 tax offenses, including failing to file GST returns and failing to pass on his employees PAYE contributions.
It was noted that Paul Coffey failed to pay approximately NZD 900 thousand in taxes over the course of three and a half years, with the amount rising to NZD 1.5 million after accounting for interest and penalties.
Along with the 8 months home detention, Paul Coffey also was sentenced to pay NZD 20 000 in reparations and to serve 280 hours in community service.
The Inland Revenues Group Manager Investigations and Advice, Tony Morris, said that the actions of Paul Coffey “…completely undermine our tax system” and allowed him to “…live the high life, spending up large on overseas travel, restaurant meals and fast cars, including $165,000 on an Aston Martin”.
Photo By: Daniel X. O’Neil