Saturday, July 03, 2010

KDSB 13 Years Never Pay Oustanding Taxes, Can Ah?

Pua wants IRB to seize KDSB assets
By Asrul Hadi Abdullah Sani June 30, 2010

KUALA LUMPUR, June 30 — Petaling Jaya Utara MP Tony Pua today suggested the Inland Revenue Board (IRB) should seize assets of Kuala Dimensi Sdn Bhd (KDSB) to pay off its debt.
It was reported that KDSB’s outstanding taxes to the Inland Revenue Board (IRB) amounting to RM328.4 million was from 1997 to 1998.

KDSB CEO Datuk Faisal Abdullah has refuted the allegations and said that the amount owed to IRB was “ridiculous.”

But Pua said that KDSB has the assets to ease the outstanding taxes based on Companies Commission of Malaysia’s (SSM) key financial information of the company.

“There are more assets in there for IRB to demand from KDSB. So legally they can enforce and even seize assets if required to pay for the debt. IRB didn’t even have to go to PKA to claim the outstanding debt. There is enough assets in KDSB that IRB can go and collect. I think that IRB should immediately do that,” he told reporters during a press conference in parliament.

The DAP publicity chief added that if IRB is not able to seize the assets from KDSB then it should charge the company.

“The directors are 100 per cent responsible for the taxes payable by the company. 13 years, not a single action done by them and I don’t accept the excuse by Kuala Dimensi that they are disputing the amount. It is the responsibility of the company to go solve it out and settle the dispute,” he said.

According to the document, KDSB’s assets for 2007 was worth RM971.7 million while it was RM932.6 million in 2008.

Pua questioned why the company was allowed to operate for 14 years without paying any taxes.

“Why is the company allowed to not pay its taxes? Whether the amount is disputed or otherwise for 13 years and the amount is not small. We know that the IRB is very efficient in taking taxes to ensure that every company pay their taxes. Why were they allowed to continue for 13 year without paying their taxes?

“This company is owned by Barisan Nasional Backbencher president and MP for Bintulu Datuk Seri Tiong King Sing. He is a director and shareholder of the company. Does it mean that a prominent member of Barisan Nasional is allowed to get away from paying taxes from so long before IRB finally says that they are going to collect through PKA,” he said.
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