Hong Kong Inland Revenue Department Reports Businessman Sentenced to Imprisonment and Fine for Tax Evasion

A businessman was convicted at the Hong Kong District Court on October 26 for tax evasion, sentenced to 5 months' imprisonment and a fine of HK$60,000. The case involved 4 charges of violating the Inland Revenue Ordinance (Chapter 112), with false claims of wage expenses totaling HK$803,000, involving tax of HK$98,858. A spokesperson for the Hong Kong Inland Revenue Department reminded that tax evasion is a criminal offense under the Inland Revenue Ordinance; upon conviction for each charge, the maximum penalty is 3 years' imprisonment, a fine of HK$50,000, plus a further fine equivalent to 3 times the amount of tax evaded.