News Formal

Richmond woman slapped with $75,000 fine for fake income tax statements

  • 📰 BurnabyNOW_News
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 77%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Fake invoices were made to match overstated amounts on a business' income tax return

Tzu Chin Lee pleaded guilty in the Provincial Court of British Columbia for one count of making, or participating in the making of, false or deceptive statements in a tax return under the Income Tax Act, said the Canada Revenue Agency in a news release.

Lee pleaded guilty for her role in preparing a corporate income tax return for Agape Enterprise Corp in 2016. According to the CRA, she was aware the return "overstated the cost of materials" by $847,605 between December 2015 and June 2016.Evidence of the overstated amounts came from false commercial invoices, said the tax agency.

"To ensure that the tax system is fair for everyone, the CRA makes sure that people who try to avoid or evade paying their fair share of taxes are held accountable," it added.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shiba Inu traders expecting fake drop should read thisShiba Inu [SHIB] continues to see unprecedented demand from whales despite the bearish market. However, fundamentals on-chain metrics still paint a grim scenario whatsoever. All bark and no bite? SHIB hasn’t been able to recover its seven-day losses while most of the top 20 coins have successfully done so. The meme token was 4.95% down […]
Source: CryptoAmb - 🏆 22. / 68 Read more »

Kinross Gold loses US$9.3M in second quarter - BNN Bloomberg​Kinross Gold reported a net loss of US$9.3 million in the second quarter due to a decrease in operating earnings and an increase in income tax expenses.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Crescent Point reports adjusted earnings jump on higher oil prices - BNN BloombergCrescent Point says it had a net income of $331.5 million in the second quarter, down from a $2.1 billion net income for the same quarter last year when earnings were boosted by a large reversal of a non-cash impairment.
Source: BNNBloomberg - 🏆 83. / 50 Read more »