Company director fined for failing to keep business records

05 Jul 2017 / 17:58 H.

SHAH ALAM: A company director was fined RM5,000 in default four months jail by the magistrate's court here for failing to keep sufficient records in relation to profit or loss of a business for the year of assessment 2012.
Magistrate P. Sarulatha imposed the fine on Nor Asyikeen Othman, 37, who is the director of Mayo Surgical Supply.
Nor Asyikeen admitted to the charge of failing to keep or retain the records (to be ascertained by) the head of the Inland Revenue Board of Malaysia.
The charge is under Section 82(1)(a) of the Income Tax Act 1967.
Inland Revenue prosecuting officer Ainil Farahin Ramli asked for an appropriate sentence to be imposed as a lesson to others, as failing to keep records is a serious offence.
She said public interest should be considered in the case.
In the same court, Algood Services company director, Yong Kee Eng, 47, claimed trial to a charge for failing to keep records for the year of assessment 2010, 2011 and 2012.
The magistrate fixed Aug 9 for mention.

thesundaily_my Sentifi Top 10 talked about stocks