Three years and four month worth of jail time has been given to a West Auckland man for 121 varying tax charges. Somsanit Phommasa, a West Auckland based tiler, admitted to 121 separate charges of GST, PAYE and income tax evasion. In the period between 1998 and 2007 is accused of having accumulated $1,617,705 worth of evaded taxes. Charges included imposing GST on customers while making no attempt to pass it onto the Inland Revenue Department. The GST fraud amounted to $479,607. Income tax ... Read More

An appeal will be filed to the High Court’s decision regarding its judgment of BNZ and its structured finance accusations. According to statements made on the 11th of August by Andrew Thorburn, BNZ Chief Executive Officer, the bank will be filing an appeal to last month’s High Court decision. He said "This is a complex area of law, and given the facts of the case, we're not convinced that the decision was the right outcome." The IRD accused the bank of engaging in ... Read More

Te Kuiti based store owner and accountant has been given 12 month jail for PAYE evasion and GST fraud. James Ivan Woollams, owner of Cabana Gifts in Te Kuiti and accountant, has pleaded guilty to 76 charges involving PAYE and GST fraud. In the time between April 1998 until March 2004 James Woollams employed five shop assistants, in that time he failed to pass any of their PAYE deductions to Inland Revenue. The fraud was discovered when the employees approached Inland Revenue wanting ... Read More

Tauranga based GST fraudster has been sentenced to 18 month jail time, after admitting to 58 charges of tax evasion. Timothy Andrew Penniket, a Tauranga based man, was charged with obtaining wage records from a company run by his mother. He is then alleged to have used these records to register 14 of the mentioned employees for GST via the internet, directing any funds to his own bank account, or one used by his associate. In total, thirty two returns were submitted by ... Read More