Home / Knowledge / News / Apparel/Garments / Clothing firms penalized for evading taxes
Clothing firms penalized for evading taxes
24
Feb '10
Four casual wear companies, Hang Ten, Giordano, Baleno and Bossini were asked to pay taxes of over NT$500 million with a penalty slapped by the National Tax Administration (NTA) for tax evasion.

All the four companies refused to pay these charges saying that, they have already paid the exact amount of taxes through different receipt systems; and in case of compulsion from relevant authorities for penalty payment, these companies would consider retreating from Taiwan market, informed a company spokesman.

As per available information, these four companies paid the owners of the stores a percentage of sales as rent. The stores in turn, issued receipts of sales amount with the rent directly deducted from their customers.

The NTA did not consider this as the right way, by saying that consumers should be billed for their purchases only, while the apparel companies should issue separate receipts for rent to the outlet owners.

The NTA has accused the clothing firms of companies of avoiding paying taxes as per laws. These companies explained that the way they used to issue the receipts was different, but the amount of tax they had paid to the Taiwan government was accurate, as per the amount, they were required to pay.

Hang Ten has been slapped NT$293 million for taxes and penalty; while the rest of the three companies, Giordano, Baleno and Bossini, were ordered to pay NT$157 million, NT$50 million and NT$28 million. These companies can go in appeal against the order to the Supreme Administrative Court.

These four companies have jointly sent letters, explaining the situation and asking the intervention of prominent personalities such as the President, the Premier, Judiciary, Minister of Finance and legislators.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Textiles | On 29th Apr 2017

Slight drop in Unifi 2017 Q3 sales

The net sales of Unifi Inc., one of the world's leading innovators in ...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X