tax evasion tagged posts
August 24, 2016 New Zealand Taxation
The IRD has won a case against a serial tax evader accused of dodging nearly NZD 800 000 in taxes.
Late last week Zai Jian Liang, proprietor of tasty Zone Restaurant in East Tamaki, was sentenced to 38 months of jail time for tax evasion amounting to NZD 787 996.
According to the Inland Revenue Department claimed that Zai Jian Liang and his wife Guan Hong Liang failed to declare more than NZD 1 million of cash sales through their restaurant.
Further, alongside failing to record cash sales, the couple also failed to pay approximately NZD 500 thousand worth of PAYE for staff salaries.
Following their gross tax evasion the family also claimed nearly NZD 30 thousand worth of Working for Families tax credits.
The evidence of the tax evasion was found by IRD investigators during raid of the co...Read More
May 4, 2016 New Zealand Taxation
The Greens are calling on the government to crack down on tax dodging multinational companies.
On May 4th the Green Party issued a statement calling on the government to use the upcoming Budget to introduce new measures to combat tax evasion and profit shifting by multinational companies operating in New Zealand.
In its release the Green Party claimed that New Zealand is missing out on “… up to $1 billion of lost tax revenue a year from the likes of companies like Apple, Facebook, Pfizer, and ExxonMobil.”
As a suggestion of what could be done to combat profit-shifting, the Green party pointed to new regulations implemented by the Australian government to charge a tax of 40 percent on illicit profit shifting.
It was also noted that while the IRD has cracked down on the tax affairs ...Read More
January 28, 2016 New Zealand Taxation
TAUPO – Serial tax evasion has landed a Taupo baker an 8 month sentence of home evasion, despite having paid most of the illicit funds back.
On January 26th the Inland Revenue Department issued a new press release showing that the Taupo District Court has sentenced a Taupo baker to 8 months home detention for his continued and determined tax evasion.
According to the IRD the owner of the Chelsea Bakery and Lunch Bar, Long Soun, has worked in the bakery since 2005, but was also the owner over the period 2011 to 2014.
During his time as the owner of the bakery Long Soun evaded taxes amounting to approximately NZD 280 000, both in the form of GST and income taxes, due to unrecorded sales, and also as missed PAYE payments for employees who worked for the business without the knowledge of the...Read More
September 3, 2015 New Zealand Taxation
A serial tax offender in Auckland has been given a punishment of home detention for evading nearly half a million dollars of taxes.
Last week Sonny Te Kanawa Walker was convicted in the Manukau District Court for repeated tax evasion charges.
Sonny Te Kanawa Walker was accused of evading tax obligations arising from profits garnered in his role as a carpetlayer.
It is estimated that the total amount of taxes evaded was approximately NZD 440 000.
The conviction is not the first time that Sonny Te Kanawa Walker has been charged with tax evasion, as in 2009 he was prosecuted successfully for similar charges.
Sonny Te Kanawa Walker has now been ordered to pay NZD 92 400 in reparations, and faces 10 months home detention.
Photo By: Chris PotterRead More