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20210629 What is the consequence if taxpayer fails to comply with the Inland Revenue Ordinance?
Complying with the Inland Revenue Ordinance (“IRO”) is always the basic responsibility of a taxpayer, what if a taxpayer commits an offence without a reasonable excuse or by willful wrongdoing. What penal actions the Inland Revenue Department (“IRD”) may take? The consequence of offending the IRO can be serious. In this webinar, we will focus on the actions and penalty the IRD may impose under multiples offence circumstances through published cases.
The purpose of this seminar is to provide an insight on the obligation being a taxpayer and the penalty provisions levied in each of these tax cases. We will also highlight the interpretation of the related provision in the IRO and the current trend of penalty related prosecution and board of review (“BOR”) cases.
1. A brief introduction of the taxpayer’s obligation under the IRO
2. Introduction of the penalty provisions under the IRO
3. The latest trend of prosecution and board of review cases
4. BOR and prosecution cases sharing