Company ordered to pay $250,991 penalty for tax evasion
A company was fined $12,000 and ordered to pay a penalty of $250,991 on Friday on two counts of tax evasion.
A representative of Positive Engineering pleaded guilty to two charges of under-reporting the income totalling $464,798 from the sale of scrap materials for the years of assessment 2008 and 2009.
Its principal activities are the fabrication and installation of aluminium panels and fire-rated doors as well as non-building construction services.
Investigation showed that Positive Engineering sold scrap materials totalling $464,798 to Chei Wee Scrap Dealer but did not keep records or issued sale invoices.