THURSDAY, OCTOBER 6, 1994
40
MERCHANT JAILED AND FINED FOR TAX EVASION
A 53-YEAR-OLD MERCHANT WAS TODAY (THURSDAY) CONVICTED OF TAX EVASION AND SENTENCED TO IMPRISONMENT FOR 18 MONTHS, SUSPENDED FOR TWO YEARS.
IN ADDITION FINES TOTALLING $1,532,990, OR 200 PER CENT TO THE TAX EVADED, WERE IMPOSED.
THE DEFENDANT WAS PROSECUTED FOR SUBMITTING, WILFULLY WITH OF INTENT TO EVADE TAX, FRAUDULENT PROFITS TAX RETURNS AND STATEMENTS ACCOUNTS, CONTRARY TO THE INLAND REVENUE ORDINANCE (SECTION 82(1)(A) AND (D)).
HE
HAD EARLIER PLEADED GUILTY TO SIX CHARGES RELATING ΤΟ THE YEARS FROM 1986/87 TO 1988/89.
THE DEFENDANT KWOK LAI-YER WAS THE SOLE PROPRIETOR OF LAI KEE COMPANY, A COTTON YARN DEALER.
SALES,
PURCHASES AND STOCK WERE INCORRECTLY REPORTED FOR THE YEARS OF ASSESSMENT 1986/87 TO 1988/89 AND THE DEFENDANT'S TRUE PROFITS WERE FIVE TIMES THOSE DECLARED IN HIS RETURNS, REPRESENTING AN UNDERSTATEMENT OF $4,653,050, OR 80 PER CENT. THE TAX EVADED WAS $758,995.
IN PASSING SENTENCE, JUDGE CHUA SAID TAX EVASION WAS A SERIOUS OFFENCE AND THE DEFENDANT DESERVED IMMEDIATE CUSTODIAL SENTENCE. THE JUDGE, HOWEVER, SUSPENDED THE SENTENCE AFTER GIVING THE BENEFIT OF THE DOUBT TO THE DEFENDANT ON THE POOR STATE OF HIS HEALTH.
AN INLAND REVENUE DEPARTMENT SPOKESMAN TODAY REMINDED THE PUBLIC THAT TAX EVASION WAS A CRIMINAL OFFENCE.
UPON CONVICTION, THE MAXIMUM SENTENCE IS THREE YEARS IMPRISONMENT AND A FINE OF $20,000 ON EACH CHARGE, PLUS A FURTHER FINE EQUIVALENT TO THREE TIMES THE AMOUNT OF TAX UNDERCHARGED.
0
S FOR WORKS ON AIRPORT PROJECT
FOR
THE
GOVERNMENT IS SATISFIED THAT IT REMAINS CLOSE TO BASELINE MAXIMUM EXTENT POSSIBLE COMPLETION OF THE AIRPORT CORE PROGRAMME (ACP) WITHIN BUDGET BY JUNE 30, 1997, THE SECRETARY FOR WORKS, MR JAMES BLAKE, SAID THIS (THURSDAY) MORNING.
SPEAKING ON "ACP CONDITIONS IN ACTION" AT THE LIGHTHOUSE CLUB SEMINAR, MR BLAKE SAID THIS FOLLOWED A RECENT RIGOROUS ANALYSIS OF ACP ESTIMATES, OUT TURN FORECASTS, AND PROGRAMME ACHIEVEMENT TO DATE.
IN VIEW OF THE SCALE AND THE VERY TIGHT SCHEDULE OF THE PROJECT, HE SAID, IT WAS CONSIDERED ABSOLUTELY ESSENTIAL TO IMPLEMENT A NUMBER OF CHANGES IN THE ACP CONTRACTS TO ENSURE THAT PROPER CONTROL OF COST AND PROGRAMME COULD ALWAYS BE MAINTAINED.
/MR BLAKE