US EditionMcClaren Steps Down After Jamaica's Draw with Curacao
LHDN's enforcement action targets tax evasion in a luxury vehicle cartel, uncovering RM70 million in undeclared sales income to protect national revenue and ensure tax fairness.
- On Nov 18, LHDN said it conducted an enforcement operation the previous day targeting a company in the Klang Valley, uncovering RM70mil in undeclared sales during several searches.
- As part of a targeted push, LHDN focused on strengthening tax compliance in the luxury vehicle sector, Datuk Dr Abu Tariq Jamaluddin, LHDN chief executive officer, confirmed the operation.
- Search teams seized documents to support the probe, conducting searches to obtain evidence of tax non-compliance under subsection 112 of the Income Tax Act 1967.
- LHDN warned that non-compliance involving large sums undermines national revenue and compromises the fairness of the tax system, and said it will ensure prosecutions under the Income Tax Act 1967.
- In a broader push against entrenched networks, LHDN said the operation aligns with government efforts to combat cartels and smuggling syndicates and includes probes into gold mining, scams, misuse of welfare status, and businesses owned by foreigners failing to declare income.
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Channel News Asia
McClaren steps down after Jamaica's draw with Curacao
(Corrects spelling of McClaren in headline)Steve McClaren has resigned as Jamaica's head coach following a goalless draw with Curacao on Tuesday, which dealt a blow to their hopes of qualifying for next year's World Cup in North America.Jamaica needed a win to qualify but hit the woodwork three times
LHDN busts luxury car cartel, exposing RM70mil in undeclared earnings
KUALA LUMPUR: The Inland Revenue Board (LHDN) said today it has uncovered major tax non-compliance linked to a suspected luxury vehicle sales cartel, following a coordinated enforcement operation across the Klang Valley.
LHDN busts luxury car cartel for failure to declare actual income from estimated RM70 mil worth of sales
The Inland Revenue Board (LHDN) has uncovered tax non-compliance by a company suspected of being involved in a luxury vehicle cartel network, including failing to declare actual income from sales transactions amounting to approximately RM70 million, Bernama reports. LHDN said in a statement today that it conducted an enforcement operation against the company yesterday, involving several Klang Valley locations including its business premises, the…
Ove's Garage Oy, part of the Autofabrik group, also specializes in investment cars.
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