According to The International Consortium of Investigative Journalists (NOTE: Sarawak Report does NOT belong to ICIJ although they write as if they own an international INVESTIGATION bureau):
Key members of the Malaysian government, their families, and well-heeled associates are among those owning secretive offshore companies in Singapore and the British Virgin Islands, according to a cache of leaked documents.
2. Guess whose name comes first and second in the list. CLICK HERE to see it for yourself. No wonder some people hobnob with the likes of Sarawak Report!
3.. When questioned about tax evasion, one cannot merely give verbal denials. Evidence has to be submitted.
4. The Malaysian IRD Tax Investigation Framework is available HERE:
Please see Section 7 on How an Investigation is carried out. Note 7.1 on The Visit.
In Section 7.2, the IRD of Malaysia says:
7.2 Examination of Records
The investigation officer is required to:
7.2.1 Examine taxpayer’s business or individual books, records and documents;
7.2.2 Examine taxpayer’s personal books, records and documents. This examination is conducted to assist IRBM to ascertain the amount of taxable income evaded, if any, through direct or indirect methods of proof; and
7.2.3 Request a person to provide information, documents, records or other papers in the custody of or under the control of that person.
5. Thus, it can be seen that in a raid for tax evasion suspects, the latter is expected to show the IRD show more than just cheque stubs.
6. Big guns with even bigger bank accounts must be well aware of how income tax people are always on the lookout for people who live beyond their means, and are ready to raid them.
If evidence confirms tax evasion, they would be thereby compelled by law to pay additional tax if evidence shows they had not paid up fully on their wealth.
And, the same bunch of people should not be in a situation to judge others perceived to be in the same boat.
Written by Datuk Huan Cheng Guan