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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

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