The Inland Revenue Board (LHDN) has uncovered tax non-compliance by a company suspected of being involved in a luxury vehicle cartel network, including the failure to declare actual income from sales transactions amounting to approximately RM70 million.
It said in a statement that it conducted an enforcement operation against the company yesterday at several locations in the Klang Valley, including its business premises and the residence of the company’s director and an auditing firm.
“Searches were conducted to obtain documents and evidence related to tax non-compliance.
“Initial investigations revealed that the company failed to report actual income from sales transactions amounting to RM70 million,” it said.
The case is being investigated under Subsection 112(1A) of the Income Tax Act (ITA) 1967, involving the…