Chinese national on tax evasion charges

Oct 11, 2024 News

Chinese national on tax evasion charges

Kaieteur News – Jin Ming Wu, a Chinese national and owner of Prosperous Hardware Incorporated, appeared at the Georgetown Magistrates’ Court on Wednesday to face four charges of alleged tax evasion.

Wu, of Lot 110 Regent Street, Georgetown, is accused by the Guyana Revenue Authority (GRA) of failing to submit individual income tax returns to the Commissioner General for the years 2022 to 2024. During the proceedings before Principal Magistrate Faith McGusty, Wu faced one charge on behalf of his company and three individual charges.

The GRA alleges that the company failed to submit its tax returns by April 30, 2022. Wu pleaded guilty with an explanation for this charge, as well as for the three individual charges concerning his failure to submit tax returns for 2022, 2023, and 2024.

Attorney Sasha King, representing Wu, informe

The prosecution stated that the penalty for the offences is 10% of the tax assessment. As such, the prosecutor requested a two-week adjournment to allow the GRA to calculate the amounts owed for each year. At the end of the hearing, Magistrate McGusty granted Wu self-bail, noting that he willingly appeared before the court. Wu is scheduled to return to court on September 23, 2024.

Just last week Thursday, Vice President Bharrat Jagdeo commented during a recent press conference on regulatory issues involving Chinese business owners in Guyana. He remarked, “There are cases where Chinese business owners often bypass regulatory approval, and the agencies responsible for enforcing the regulations do not hold them accountable according to the laws of the country.”

Jagdeo elaborated, “So they (Guyanese) put up a building that breaches the building permits, no ventilation there in the building, they will get a visit from the inspector who says to sell pharmaceuticals here you have to have proper ventilation, but next door, there is a Chinese company selling pharmaceuticals and there is no ventilation whatsoever; they are not applying the law uniformly.” He further stated, “The Guyana Revenue Authority does not pay careful attention to the payment of VAT and other things or hold them accountable for paying VAT and other taxes that they have to pay. We have made it clear to the regulatory bodies that you have to enforce the laws uniformly, and we believe that sometimes people are induced not to do that, so we are paying careful attention to this.”

(Chinese national on tax evasion charges)

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

appeared, Chinese National, court, Jin Ming Wu, Magistrate McGusty, self-bail, tax evasion, the Georgetown Magistrates

Latest News